Paramount Plus closed out the second quarter of 2022 with more than 43 million subscribers, marking another good three-month period for the service. Paramount Plus brings together a variety of content from different networks including Paramount and CBS. All of which means it has the potential to appeal to a wider user base than some other services.
That appears to have been the case in the last quarter with the number of Paramount Plus subscribers having grown beyond 43 million, as of June 30, 2022. According to the company’s latest earnings release, the service added 4.9 million subscribers in the quarter alone. The 43 million also reflects the removal of 1.2 million subscribers in Russia, resulting in a total net addition of 3.7 million subscribers for the three months ending June.
While Paramount took a moment to highlight its growth within the domestic market, it also credited market launches in the UK, Ireland, and South Korea for helping drive Paramount+ subscriber growth during the quarter. During the first quarter of this year, Paramount Plus added 6.8 million subscribers to bring the total to almost 40 million by the end of March, 2022.
Beyond Paramount Plus, Paramount Global announced its total number of global direct-to-consumer subscribers grew to almost 64 million by the close of the second quarter. This also reflected the addition of 5.2 million subscribers and the removal of 3.9 million subscribers in Russia. With the total reaching 64 million inclusive of 43 million Paramount Plus subscribers, the total number of subscribers for the company’s other services declined slightly from their Q1 total of 62 million inclusive of 40 million Paramount Plus subscribers.
When it comes to the company’s free service, the earning report also confirmed that the number of monthly active Pluto TV users grew to nearly 70 million during the second quarter of 2022. All of which helped Paramount Global report a 19 percent year-over-year increase in total company revenue during the quarter.
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