Paramount Plus ended the second quarter of 2023 with 61 million subscribers. While an increase for the streaming service in general, it is somewhat of a small increase when compared to the quarter before.
After ending 2022 with around 56 million subscribers, Paramount Plus managed to add another 4 million subscribers during the first quarter of this year. This increase took the total number up to 60 million at the start of 2023.
As of June 30, 2023, the number of Paramount Plus subscribers stood at 61 million, according to Paramount Global’s latest quarterly results. Essentially, Paramount Plus only managed to add 700,000 subscribers during the second quarter of the year.
While a modest increase on the quarter before, it is still a fairly substantial increase on the year before. Paramount Plus ended Q2 2022 with around 43 million subscribers in total.
Paramount+ also saw revenue grow 47% during the most recent quarter. According to Paramount Global, the increased revenue was “driven by subscriber growth and increased advertising revenue.”
Shortly before the end of the second quarter of this year, Paramount Plus increased the price of its plans. The standard Essential plan increased by $1 to $5.99 a month, while the ad-free Premium plan was replaced with the new Paramount+ with Showtime tier. This resulted in the cost of the ad-free Paramount Plus plan increasing by $2 to $11.99 a month.
Due to this Paramount-Showtime tier only going live a few days before the end of June, it remains to be seen how much its introduction impacted on the number of new subscribers during the second quarter.
Likewise, it also remains to be seen how much the price increase in general impacted on the number of subscribers going into the third quarter of the year.