You may think that Paramount Plus may not stand a chance in a grim market as Netflix is flailing, but it's apparently thriving. Paramount revealed that its streaming service has finished the first quarter of 2023 with over 60 million subscribers.
The streaming service was able to reach this milestone due to the addition of 4.1 million subscribers in the first half. This added to the 56 million subscribers reported by the end of the fourth quarter on December 2022.
The total global viewing hours across Pluto TV and Paramount+ have increased 50% year-over-year, with about 20% sequentially. Paramount+ success had help from TV shows like Tulsa King and Star Trek: Picard.
How Paramount+ Reached 60 Million Subscribers
As to be expected, one of the reasons why Paramount+ has risen in popularity is their consistent release of new movies and TV shows. A few movies releasing this May include Death's Roulette, Cast Away, Titanic, Forrest Gump, Titanic, and Mission Impossible from one to four.
On the other hand, TV series will also be arriving on Paramount+ over the next few weeks of May. This includes The Tiny Chef Show, RuPaul's Drag Race, and Kung Fu Panda: Legend of Awesomeness.
According to Paramount Global, Paramount+ global subscriber count was driven by the return of shows like Yellowstone and Star Trek: Picard. Their most popular TV series, Spongebob Squarepants, also contributed to their success due to the various social media mentions nearly every second.
Aside from Paramount+'s success, Paramount's free-to-watch streaming service, Pluto TV, topped about 80 million monthly active users. Pluto TV became the #1 free ad-supported streaming television (FAST) service globally, with a 35% year-over-year increase in viewing hours.
While overall subscription revenue reached 50% compared to 2022, the money coming from Paramount+ pocket surged 65%.
Related Article: Star Trek Day on Paramount Plus: Here's What You Have to Know
What Paramount Plus Has to Offer
Like many other streaming services, Paramount+ offers various plans to choose from. This multi-tiered approach makes it easier for viewers to choose a plan which best suits their budget and needs.
Not only do they have an ad-supported plan priced at $4.99/month and an add-free plan at $9.99/month, but viewers can also bundle Showtime with Paramount+ and save cash in the process. The combined offering was named "Paramount+ With Showtime."
Note that the flurry of new content on Paramount+ may come with a higher price. The ad-supported tier, which does not include Showtime, will go up from $5 to $6 per month while the premium plan will increase from $10 to $12 per month.
Paramount+ also promotes access to recent movies like Top Gun: Maverick (2022), Smile (2022), 80 for Brandy (2023), and Teen Wolf: The Movie(2023). Viewers can also watch popular shows like The Good Fight, Yellowstone, Cheers, Twin Peaks, and of course "Star Trek: Picard" and "Star Trek: Discovery."
Paramount also showcases its original programs, which contributed to the success of Paramount+, including Tulsa King and 1923. Another factor that helped with their rising subscriber count is the ability to catch the NBL playoffs on CBS games on Paramount Live TV.
