Paramount+ And Pluto Killing It For Paramount Inc

It looks like things are going well on the mountain these days. Paramount Global shared its revenues for the most recent quarter and boasted that revenue for Paramount+ grew by 95% with the streamer also adding 4.6 million new subscribers. That is solid growth for a service that has spent the last year growing an identity after the major rebrand from CBS All Access.

The company which comprises Paramount Pictures and Viacom along with CBS has built a streaming profile that includes the premium subscription app along with a free service, Pluto TV that has continued to gain momentum as an industry-defining solution to attract viewers looking for content in exchange for watching ads.

Highlights include:

Paramount+ was the #1 streaming service in the U.S. in sign-ups and
gross subscriber additions year-to-date according to Antenna’s
September 2022 Report

Paramount+ Added 4.6M Subscribers and Grew Revenue 95%
– Total Global Direct-to-Consumer (DTC) Subscribers Rose to Nearly 67M

« Pluto TV Maintained its Lead as the #1 Free Ad-Supported Streaming TV Service In the U.S.
– Reached 72M Monthly Active Users (MAUs) Globally
– Grew Global Total Viewing Hours Strong Double Digits Year-Over-Year
– Pluto TV became the first free ad-supported streaming TV service to
represent a significant enough portion of TV viewing to be named in
Nielsen’s monthly TV viewing Gauge report.

« Paramount Pictures Extended its Impressive Theatrical Run in 2022
– Smile Delivered the Studio’s Sixth #1 Film Year-to-Date
– Top Gun: Maverick Became the #5 Domestic Movie of All Time

« Affiliate & Subscription and Theatrical Revenue Strength Drove 5% Increase in Total Company Revenue
– Affiliate & Subscription Revenue Grew 8%, Including 59% Growth in DTC Subscription Revenue
– Theatrical Revenue Increased 245%
– Advertising Revenue Declined 2%, Reflecting Macroeconomic Headwinds