You might think that a network-specific streaming service like Paramount+ has no chance in a bleak market where even Netflix is struggling, but it appears to be thriving.
According to the company, Paramount+ added 3.7 million subscribers in the second quarter, bringing the total number of users to more than 43 million. And this is after the service’s withdrawal from Russia — if not for that, the service would have gained 4.9 million viewers.
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ViacomCBS attributed the increase in part to expansions into new markets, such as the United Kingdom, Ireland, and South Korea. It did, however, point to success with content such as its Halo series, Star Trek: Strange New Worlds, movies such as Sonic the Hedgehog 2, and live Champions League matches.
The studio is still relying on its sci-fi audience, but not as heavily as in the past.
The overall Paramount+ subscriber count is still tiny compared to Netflix (220.7 million) and Amazon Prime Video (over 200 million). Its growth is a sharp contrast to Netflix’s nearly 1 million lost subscribers, though.
According to Antenna data, the company had the most sign-ups and net additions of any US-based premium subscription streaming service in the quarter. In other words, Paramount+ outperformed all of its major competitors, including Apple TV+, Hulu, and Peacock.
It is unclear whether this trend will continue. The company is still expanding into new countries, and it is expected to be available in 60 markets by the end of the year. For the time being, it can rely on those newcomers to boost its numbers.
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However, the streamer will eventually become more reliant on the quality of its catalogue to grow its audience. While there have clearly been some setbacks, heavyweights like Amazon and Netflix continue to have plenty of cash and momentum on their side.
The post Paramount+ Hits 43 Million Subscribers As Streaming Rivals Struggle appeared first on SurgeZirc UK.