Paramount+ tops 61 million subscribers after Showtime merger

Paramount stated that it added 700,000 subscribers to Paramount+ in Q2 2023 after the corporate launched a subscription tier with Showtime integration in June. This addition meant Paramount+ subscriber depend now stands at round 61 million — up from the 60 million reported final quarter.

The brand new built-in $11.99 per 30 days plan with Showtime changed Paramount+’s premium ad-free $9.99 per 30 days plan. On the similar time, Paramount additionally raised costs for its Important ad-supported plan from $4.99 to $5.99 per 30 days. The corporate famous that mixed viewing hours for Paramount+ and ad-supported streaming TV service Pluto TV jumped by 35% globally.

Paramount International reported a complete income of $1.67 billion for its direct-to-consumer service with streaming contributing $1.23 billion and promoting fetching greater than $400 million.

The corporate’s CEO and President Bob Bakish talked about Paramount’s world enlargement plans together with Pluto TV’s launch in Australia final week with 50 FAST channels.

“We’ve simply introduced that we’re increasing the worldwide Pluto TV footprint with our launch in Australia. And we’ll be launching ad-supported tiers of Paramount+ in sure worldwide markets as we transfer ahead. Importantly, the power of our proposition isn’t just digital,” he stated

The corporate additionally famous that Pluto TV is now out there in 35 markets throughout the globe.

In June, Paramount pulled a slew of content material together with exhibits like “Inside Amy Schumer” and a bunch of Nickelodeon’s animated exhibits.

Throughout Paramount International’s Q2 2023 newest earnings name, the corporate additionally stated that it’s promoting the Simon & Schuster publishing home to KKR for $1.62 billion. The corporate put up the publication on the market first in 2020. It had agreed to a $2.2 billion cope with Penguin Random Home, however the merger was blocked by a U.S. District Courtroom after the Justice Division’s grievance. Paramount’s inventory rose almost 5% in after-hours buying and selling.

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