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Paramount+ Adds 3.5 Million Streaming Subscribers in Q3 2024 to Hit 72 Million

The Paramount streamer saw revenue grow by 25% in the quarter.

David Satin
David covers the biggest news stories, live events, premieres, and informational pieces for The Streamable. Before joining TS, he wrote extensively for Screen Rant and has years of experience writing about the entertainment and streaming industries. He's a Broncos fan, streams on his Toshiba Fire TV, and his favorites include "Andor," "Rings of Power," and "Star Trek: Strange New Worlds."
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Matt Tamanini
Matt is The Streamable's News Editor and resident Ohio State fan. You can find him covering everything from breaking news to streaming comparisons to sporting events. Matt is extremely well-rounded, having worked for the Big Ten Conference, BroadwayWorld, True Crime Obsessed, and Land-Grant Holy Land before joining TS. He cut the cord in 2014, streams with a Fire TV, and his favorite titles include "The Bear," "The Great British Bake Off," "Mrs. Davis," and anything on the Hallmark Channel.
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David Satin, Matt Tamanini

Paramount Global is next in line to report its earnings for the third quarter of 2024. The company held its traditional conference call to discuss the earnings report with analysts on Friday, and as part of that report shared that Paramount+ had grown to 72 million customers, an increase of 3.5 million from the 68.4 million it had at the end of the second quarter.

Turning to the financial part of the equation for Paramount, the company saw direct-to-consumer profits grow, after seeing that segment of the company turn in a $26 million profit last quarter. This quarter, that grew to a $49 million surplus. Year-over-year revenue for the company’s direct-to-consumer platforms grew by $168 million, and average revenue per user ticked up 11%.

What Did Paramount Do in Q3 2024?

The third quarter saw the price of Paramount+ increase for the first time since 2023. Starting in August, the cost of streaming ad-supported Paramount+ Essential rose to $8 per month, and the price of Paramount+ with SHOWTIME ticked up to $13.

The company also formalized a merger deal with Skydance Media during the quarter, but not before receiving a last-minute bid. Former Warner Music executive Edgar Bronfman Jr. made a formal offer to buy Paramount in late August, much to the chagrin of Skydance officials who were none too pleased that they were possibly about to have the rug pulled from under them.

Bronfman eventually dropped his bid after being unable to satisfy concerns that it was not well-financed, which cleared the way for Skydance to make an official deal with Paramount. That transaction is expected to close sometime in the first half of 2025.

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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. Get free access with a Walmart+ subscription.

Paramount+ includes “1883,” “Tulsa King,” “Star Trek: Discovery,” “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.

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David Satin
David covers the biggest news stories, live events, premieres, and informational pieces for The Streamable. Before joining TS, he wrote extensively for Screen Rant and has years of experience writing about the entertainment and streaming industries. He's a Broncos fan, streams on his Toshiba Fire TV, and his favorites include "Andor," "Rings of Power," and "Star Trek: Strange New Worlds."
Read full bio ›
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