Paramount+ is gathering momentum. The service just notched its best week of signups since the rebrand from CBS All Access, adding 1 million new accounts.
A strong collection of new content helped drive subscriptions, including a family film (“Clifford the Big Red Dog”), an adult drama (“Mayor of Kingstown”from “Yellowstone” co-creator Taylor Sheridan), a concert event (“Adele: One Night Only”) and three Paramount + Originals (“SEAL Team,” “The Game,” and another season of “The Challenge: All-Stars”).
Subscribers are also able to access NFL games in their local markets.
“This week we ushered in a mix of must-see originals, a blockbuster family film, and top-tier sports that appealed to the whole household. This is a content strategy we will continue to lean into as we invest in scaling Paramount+,” said Tom Ryan, President and Chief Executive Officer, ViacomCBS Streaming. “The remarkable levels of engagement we are seeing are a testament to the power of great storytelling on the service and the sheer breadth and depth of our content offering.”
It’s good news on top of good news for the service as “Clifford” also piled on $22.2 million in domestic box office in its first five days, making it Paramount’s second family film to score big in the theater and with streaming audiences. The company reserves that strategy for younger-skewing films, while choosing a different plan for adult-skewing films.
CEO Bob Bakish said, “For the bigger films … We like to do (a) ‘fast-follow’ theatrical to Pay-1 strategy of 45 days…I continue to think that’s the sweet spot of driving theatrical revenue and streaming growth in general.” Paramount+ has done this with “A Quiet Place Part II” and “Snake Eyes: G.I Joe Origins.”
It’s that separation of dual-release family films and theatrical-only adult films that may become the industry standard. And it makes sense. While some parents will be excited to take their kids to the theater for a day out, others would prefer to stay home and stream. Media companies can make more money with a slower rollout of adult films, and it also prevents piracy that accompanies high-profile films. It would be less likely a parent would pirate a kids’ film.
The strategy seems to be working. Now we’ll see if Paramount+ can continue the momentum.
Paramount+ is a subscription video streaming service that includes on-demand access to 12,000+ TV show episodes including originals Star Trek: Discovery, Nickelodeon’s SpongeBob SquarePants, and MTV’s Laguna Beach. Meet captivating characters, catch up on your favorite sport, explore new worlds in the growing collection of Paramount+.
Previously under the name ‘CBS All Access,’ Subscribers can choose between their Essentials Plan (which includes ads) for $4.99/month, or go commercial-free with their Premium Plan for $9.99/month.
With their Premium Plan, in addition to not having ads, you will also get access to your local CBS affiliate to stream your local news, prime-time line-up, and late-night. You will also be able to download offline and watch select shows in 4K.
With the lower cost “Essential” plan, you will still be able to watch live NFL games, Champions League, and national news – but you will no longer get your local CBS affiliate like the old ad-supported plan.
With their new app, enjoy advanced recommendations, curated homepages, and new content categories while still being able to stream major live sports like NFL, College Football, College Basketball. Sports fans will also appreciate the service’s inclusion of NFL on CBS, PGA Tour, along with every match of UEFA Champions League and Serie A.