Paramount Plus’ subscriber base has risen to nearly 40 million, with the service gaining 6.8 million subscribers in the first quarter of 2022 alone, Paramount announced in its earnings report Tuesday. An increase in subscribers also led to more money for the company — direct-to-consumer revenues, including Paramount Plus and its free TV streaming service, Pluto TV, were up 82 percent year over year.
While subscription revenues for both Pluto TV and Paramount Plus grew 95 percent year over year, ad revenue grew 59 percent. The company says that Paramount Plus subscribers have also watched more shows for a longer period of time. This, along with a higher subscriber count, was mainly due to the service bolstering its selection of shows.
Paramount Plus released a live-action exclusive Halo TV show last month in addition to the second season of Star Trek: Picard, an original spin-off of the iconic series. It is also home to Star Trek: Discovery† Camp Koral: SpongeBob’s Under Years, and backgrats and iCarly restart. Yesterday Paramount Plus announced it’s coming back Hey! MTV Raps on May 24.
Paramount Plus, which has been around for a little over a year now, may not be considered a streaming giant yet, but it seems some of the original content is attracting more subscribers (which will likely increase after expanding to the UK and Ireland). in June). At the same time, Paramount Plus notes that as its subscriber count is on the rise, Netflix lost a small portion of its more than 200 million subscribers last quarter, the first subscriber drop in more than 10 years. Netflix hopes to make up for that loss by potentially cracking down on password sharing and rolling out a cheaper ad-supported option. Paramount Plus already offers a fairly affordable ad-supported plan of $4.99 per month (or an ad-free option at $9.99 per month).