With 3.5 million subscribers added between July and September, Paramount+ ended the third quarter of 2024 with 72 million subscribers. The update confirms the service bounced back after losing close to three subscribers during the previous quarter.
After closing out the first quarter of the year with 71 million subscribers, Paramount+ ended the second quarter with 68 million global subscribers resulting in a loss of 2.8 million.
Following confirmation that the service ended the most recent quarter with 72 million, Paramount+ has not only recovered from the previous quarter’s loss but also added close to another million on top of the 71 million reported for Q1.
“Our hit content drove strong performance in Q3 where Paramount+ added 3.5 million new subscribers, solidifying our position as the #4 global SVOD service,” co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins said in a joint statement.
In terms of that “hit content,” Paramount Global cited sports, including the return of the NFL and UEFA, as well as Tulsa King, Mayor of Kingstown, A Quiet Place: Day One and IF in helping fuel acquisition during the quarter.
Considering Paramount+ ended the third quarter of 2023 with 63 million subscribers, the streaming service has added roughly 9 million over the past year. Paramount also reported a 7% year-over-year increase in DTC subscription revenue, with the increase said to be driven by subscriber growth and price increases.
During the third quarter, the cost of the Paramount+ Essential plan increased from $5.99 to $7.99 a month. At the same time, the cost of the Paramount+ with Showtime tier increased from $11.99 to $12.99 a month.
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