Paramount+ closed out the fourth quarter of the year, and 2023 in general, with 67.5 million subscribers. The streaming service also saw a 69% year-over-year increase in revenue.
The 67.5 million subscribers for Q4 2023 resulted in an increase of around 4.1 million. Paramount+ ended the third quarter of 2023 with more than 63 million subscribers. With the service also having ended the previous year with 56 million subscribers, Paramount+ managed to add more than 11 million subscribers over the past twelve months.
Notably, the 4.1 million subscribers added during the fourth quarter of 2023 was significantly lower than the 9.9 million subscribers Paramount+ added during the fourth quarter of 2022.
Paramount Global also reported a 69% increase in Paramount+ revenue. Overall, Paramount Global saw direct-to-consumer subscription revenue grow by 43%, with Paramount attributing the increase to subscriber growth and price increases. The price of Paramount+ increased in July of 2023, taking the cost of the Essential plan up to $5.99. At the same time, the Premium plan was replaced with the Paramount+ with Showtime plan, resulting in a $2 monthly price increase.
While the company continues to promote growth in subscribers, there is the issue of what’s going to happen to the service, and its owner, Paramount Global. Over the past few months alone, there has been a good number of reports pointing to the likelihood of a sale or some form of a commercial deal.
For example, reports have already linked Paramount Global to Warner Bros. Discovery, Peacock, Skydance Media and Allen Media Group. While Warner Bros. Discovery now seems to have pulled out of any potential deal, there’s still the possibility for one of the others to come to some form of an arrangement.
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