Paramount+ Adds 7.3M Subscribers in Q4 to hit 32.8M, Company Predicts 100M by 2024
For the first time, ViacomCBS broke out numbers for Paramount+ in their earnings release. The service added 7.3 million subscribers in Q4 2021 for a total of 32.8 million by the end of the year. Toss in subscribers to their other streaming services and ViacomCBS added a total of 9.4 million subscribers for a total of 56 million.
Company executives touted 350% growth among 18-to-34-year-old Paramount+ subscribers in Q4, lowering the average age of its subscribers by seven years in the past year.
ViacomCBS also reported revenue from Pluto TV grew 45% year-over-year to a total of $362 million, thanks to 64 million monthly active users.
CEO Bob Bakish also announced that beginning in 2024, all Paramount movies will head to Paramount+ first. The company is aiming for 100 million Paramount+ subscribers by 2024.
Since the December 2019 merger of Viacom and CBS, Bakish has transformed the combined company. However, there may be too many streaming nameplates for it to keep up with competitors.
Just two weeks ago, Comcast and ViacomCBS received “full regulatory approval” to create European streaming joint venture SkyShowtime, which will launch in over 20 European markets.
Meanwhile, ViacomCBS has consistently prioritized Paramount+, with reports of putting The CW up for sale to shift content budgets for the streaming service. It will soon release the much-anticipated “Halo” series in March, which is likely a huge subscription driver for service. The UEFA Champions League will return to Paramount+ on February 15, which may be another driver for subscriber growth.
New shows like the animated kids series “Big Nate” (February 17) and exclusive docuseries “Wasteland” (February 24) will also premiere. Other content hitting the service is “Jackass Forever,” which can be expected to hit the streaming service in early or mid-March.
However, a letdown to the platform was when the seventh film of “Mission: Impossible” got bumped, once again, from 2022 to 2023, while the eighth film moved to 2024. This wipes a blockbuster from the Paramount+ lineup in 2022.
In terms of the international market, ViacomCBS and CJ ENM have established a new strategic partnership that will bring Paramount+ as an exclusive bundle to South Korea in 2022, marking its first-ever appearance in the Asian market. It will be bundled with TVING, CJ ENM’s streaming service. On December 14, Pluto TV launched a CJ ENM branded channel featuring K-content.
Also, Paramount+ will exclusively air live Premier League soccer starting with the 2022-23 season. Subscribers in Mexico, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama will be able to watch 380 live matches for three years. Subscribers in Belize and the Dominican Republic can watch as well but on a non-exclusive basis. In addition, ViacomCBS became the exclusive U.S. English-language rights holder of the Barclays FA Women’s Super League.
In terms of live and local channels, December 2021 brought the platform live channels such as Adult Animation, Crime & Justice, PAW Patrol, and more. This allowed ViacomCBS’ streaming service to differentiate itself from Netflix, HBO Max, and Disney+. Also, back in November of last year, the company renewed its CBS Television Network Affiliate Agreements with Gray Television, which means Gray’s CBS affiliates will continue to be available locally to subscribers on Paramount+.
Pluto TV gained immense popularity and is expected to continue in the next quarter. The platform started the new year by adding three new channels “Best of The Drew Barrymore Show,” “Acapulco Shore,” and “BBC Kids.” This was a month after they added six free channels to its lineup and two months after they added a whopping 15 channels.
Meanwhile, SHOWTIME has been touting that franchise revival “Dexter: New Blood” and the upstart thriller “Yellowjackets” are the biggest reasons for new signups.
For the entire month of February, Amazon Prime Video teamed up with Showtime to provide a complimentary 30-day free trial, an upgrade from the 7-day free trial. Along with the Paramount+ and Showtime bundle, ViacomCBS is doing anything to keep its many streaming services in subscribers rotations.
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.