You might think that a network-specific streaming service like Paramount+ doesn’t stand a chance in a bleak market when even Netflix falters, but it seems to be thriving. The company announced that Paramount+ added 3.7 million subscribers in the second quarter, for a total of more than 43 million users. And that was after the withdrawal from Russia – if it hadn’t been for that, the service would have gained 4.9 million viewers.
ViacomCBS attributed part of the increase to expansions into additional countries, including the UK, Ireland and South Korea. However, it also pointed to success with content featuring his gloriole Series, Star Trek: Strange New Worldsmovies like Sonic the Hedgehog 2 and Live Champions League matches. So Paramount+ still draws on its sci-fi audience, but not as much as it has in the past.
Paramount+’s total subscriber base is still tiny compared to Netflix (220.7 million) and Amazon Prime Video (over 200 million). However, its growth contrasts sharply with Netflix’s nearly 1 million lost subscribers. The company would also like to note that it had the most signups and net adds of any US-based premium subscription streaming service during the quarter, according to Antenna data. In other words, Paramount+ outperformed all of its main competitors, including Apple TV+, Hulu, and Peacock.
It is uncertain whether this trend will continue. Paramount+ is still expanding into more countries and is expected to be available in 60 markets by the end of the year. It can count on these newcomers to increase its numbers for a while. Ultimately, however, the streamer will depend more on the quality of their catalog to grow their audience. And while there’s clearly been some hits, heavyweights like Amazon and Netflix still have plenty of cash and momentum in their favor.
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https://www.engadget.com/paramount-plus-subscribers-grow-152820376.html?src=rss Paramount+ hits 43 million subscribers as streaming rivals struggle