According to the Morning Consult's report on the fastest-growing brands for 2021, Paramount+, the streaming service from ViacomCBS, was the top streaming service in 2021, the number one fastest-growing brand among all adults, and the number one fastest-growing brand for Gen Z and Millennials. The two other streaming services that made the list were HBO Max and another ViacomCBS-owned service, Pluto TV. Meanwhile, Netflix and Hulu were nowhere near the top 20.
It also should be noted that, according to Google Play, the streaming service was the best Android App of 2021 in the “User’s Choice” category.
For 2021, Morning Consult states that, unlike in the past, no brand experienced a double-digit jump in purchasing consideration among the general public. The average growth among the top 20 this year is also lower than it has been previously. The average growth of all 1,159 brands included in this year’s analysis was 0.33 percentage points.
That means the brands that did make it to this year’s list are truly liked by consumers. New streaming platforms saw growth amid a crowded market.
Joanna Piacenza, Head of Industry Intelligence, said, “Paramount+ saw the most growth with millennials over the year, jumping 14.2 points in consideration. That’s due in part to the generation’s love of live sports, a key feature of the streaming service.”
In the report, Paramount+ was ranked number one for all adults including Gen Z and Millennials. However, Gen X ranked the service number two, and Baby Boomers placed them at number six on the list.
HBO Max was number three among all adults, #20 for Millennials, number seven on the list for Gen X, and ranked number three for Baby Boomers. Pluto TV was number seven among all adults, #16 for Millennials, number six for Gen X, and number eight for Baby Boomers.
Additionally, among all adults, Paramount+ saw a growth of 8.5 percentage points. Growth was determined by taking the share of consumers who said they were considering purchasing from the brand from October 1-26, 2021, and subtracting the share who said the same back on January 1-31, 2021.
HBO Max had a growth of 5.0 percentage points, and Pluto TV experienced a growth of 3.7 percentage points. Interestingly, YouTube Shorts was one rank above Pluto TV with a growth of 3.8, whereas YouTube Premium was #20 in the ranking (last place) with the smallest growth of 3.0.
Why Paramount?
With over 200 streaming services available, it takes a lot to push through the already extremely crowded streaming ecosystem. But Paramount+ did a great job in March when they rebranded from CBS All Access and added 1 million new accounts.
Unlike other services, which rely on one-hit wonders to boost traffic, Paramount+’s combination of films, TV shows, live sports, and news have been bringing in new consumers from all generational cohorts. For instance, its newest release, “Clifford the Big Red Dog” broke a new record as the most-watched original film on the service. More exciting and upcoming Paramount+ originals include “Queen of the Universe,” “Reno 911! The Hunt for QANON,” and “1883.”
Paramount Plus
Paramount+ is a subscription video streaming service that includes on-demand access to 40,000+ TV show episodes from BET, CBS, Comedy Central, MTV, Nickelodeon, Nick Jr. and more. The lineup includes “1883,” “Tulsa King,” “Star Trek: Discovery,” Nickelodeon’s “SpongeBob SquarePants,” and “PAW Patrol.” Subscribers can watch the NFL, college football, The Masters, college basketball, UEFA Champions League, UEFA Europa, Serie A, and NWSL. The service also offers the option to watch your live CBS affiliate. The upgraded ad-free package includes premium movies and shows from Showtime.