Julia Stoll
Research expert covering TV and video media
Paramount Plus - statistics & facts
In the dynamic world of video streaming, Paramount+ has emerged as one of the fastest growing platforms. Thanks to its content offers, such as major sporting events, popular franchises, and originals, the Paramount-owned direct-to-consumer streaming service saw over 10 percent growth rates in American subscribers for each quarter of 2023. However, despite constantly getting new subscribers, the company is aiming to be profitable after years of making losses with the streaming business.
On the other hand, Paramount+ benefited from its competitive sports programming. Ahead of the prestigious Super Bowl, usually taking place in February, the provider significantly expanded its customer base. By the end of 2022, for example, the number of subscribers increased by nearly 10 million, while the growth was only 700,000 between the first and the second quarter of 2023.
Driven by popular originals, franchises, and live sports, as well as strategic partnerships, Paramount+ boosted its reach on a global scale. Meanwhile, losses improved recently, with a forecast suggesting making profits within the next years. However, as long as negotiations with several companies are going on, the future of Paramount+ and its owner is uncertain.
Unique selling points
With an operating loss of 1.7 billion in 2023, Paramount Global’s streaming division joins other providers, such as Disney and Peacock, that must compensate for their deficits. Thus, several services have been cutting back on their catalogs to save costs – and Paramount+ is no exception. Between October 2022 and October 2023, the platform reduced its movie library by 64 percent in the U.S. Furthermore, according to an early 2024 announcement, Paramount removed several Nickelodeon titles, while shifting away from local content towards big Hollywood hits and original programs with global appeal. Indeed, a survey revealed that the vast majority of American Paramount+ users were enjoying original programming the most. Furthermore, franchises, such as “Criminal Minds” and “Star Trek,” attract audiences around the world and are probably among the main reasons for international customers to stay loyal to or for non-subscribers to sign-up for the service.On the other hand, Paramount+ benefited from its competitive sports programming. Ahead of the prestigious Super Bowl, usually taking place in February, the provider significantly expanded its customer base. By the end of 2022, for example, the number of subscribers increased by nearly 10 million, while the growth was only 700,000 between the first and the second quarter of 2023.
Bundles drive consumers’ interest
The unique mix of content building brand awareness may also be attractive to its competitors, such as Netflix or Comcast’s Peacock, for bundled services. Partnerships with the retailer membership program Walmart+, as well as Amazon Prime Video Channels have already helped Paramount+ to grow reach and accessibility. While Paramount Global recently made headlines by announcing they declined an offer from entertainment company Skydance Media, there were also discussions about a potential Paramount+-Peacock combination. A 2024 survey suggests that this merger could have a huge value for both parties, with nearly half of U.S. respondents showing interest in subscribing to such a bundle.Driven by popular originals, franchises, and live sports, as well as strategic partnerships, Paramount+ boosted its reach on a global scale. Meanwhile, losses improved recently, with a forecast suggesting making profits within the next years. However, as long as negotiations with several companies are going on, the future of Paramount+ and its owner is uncertain.
