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 ((link: movies/clifford-the-big-red-dog-2021 text: “Clifford the Big Red Dog”)), an adult drama ((link: shows/mayor-of-kingstown-2021 text: “Mayor of Kingstown” )from (link: shows/yellowstone-2018 text: “Yellowstone”) co-creator Taylor Sheridan), a concert event ((link: movies/adele-one-night-only-2021 text: “Adele: One Night Only”)) and three Paramount + Originals ((link: shows/seal-team-2017 text: “SEAL Team,”) “The Game,” and another season of (link: shows/the-challenge-all-stars-2021 text: “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.”
The upcoming content slate also looks strong, with a new season of (link: shows/star-trek-discovery-2017 text: “Star Trek: Discovery,” ) an (link: movies/south-park-post-covid-2021 text: original “South Park” movie), and the “Yellowstone” prequel series, (link: shows/y-1883-2021 text: “1883.”)
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 (link: movies/a-quiet-place-part-ii-2021 text: “A Quiet Place Part II”) and (link: movies/snake-eyes-g-i-joe-origins-2021 text: “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 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.