Paramount+, Showtime Top 62 Million Combined Subscribers

variety.com:

Jennifer Maas TV Business WriterParamount+ and Showtime topped a combined 63 million subscribers at the end of the first quarter, Paramount Global revealed Tuesday.

From that new total, 6.8 million are Paramount+ sub additions from Q1.That’s up from the combined 56 million subscribers that the company reported the streamers hit by the end of 2021.

At that time, 80% of those new subs — or 7.3 million — were strictly Paramount+ additions. By the close of Q4, Paramount Plus’s total subscribers reached 32.8 million.“The first quarter once again demonstrated the power and potential of Paramount’s unique assets and the company’s continued momentum,” Paramount president and CEO Bob Bakish said in a prepared statement accompanying the Q1 earnings results Tuesday. “Our differentiated playbook – including a broad content line up, a streaming business model that spans ad-supported and subscription, and a global portfolio that links streaming with theatrical and television – drove strength across our entire ecosystem, including DTC revenue growth of 82% and 6.8 million Paramount+ subscriber additions.

Our strategy is working and our execution is strong, as we remain focused on delivering a great experience for consumers and a compelling financial model to our shareholders.” Click here to sign up for Variety‘s free Strictly Business newsletter covering earnings, financial and investment news, and more.Last quarter, the company told investors that it was raising its global streaming subscriber goal from 65 million-75 million by 2024 to more than 100 million by the end of that year.Paramount Global’s free platform Pluto TV rose to nearly 68 million monthly active users (MAUs) during Q1, up from more than 65 million at the end of 2021.