A quiet streaming giant
Paramount may not be super flashy but it is experiencing steady growth in the streaming space...
There’s been a lot of news coverage of Netflix lately hence we might forget other companies in the streaming space.
Paramount Global (formerly known as ViacomCBS) is an underrated player. Its flagship paid streaming service is Paramount+ which offers a vast content library for all age groups. As per a recent earnings report, Paramount+ added 6.8 million subscribers in Q1 2022, and reached 39.6 million in total.
Other brands in the Paramount Global streaming portfolio include Showtime, BET+ and Noggin. The total number of subscribers for the group is 62.4 million.
Not included in the total above is Pluto TV, a free ad-supported service which is doing really well. It had 68 million active global monthly users in Q1 2022 (up from 64 million in Q4 2021).
Paramount Global’s short term growth strategy for its streaming division is an international expansion for Paramount+. The service will launch in the U.K. and South Korea in June. An India launch is also planned next year. This could lead to significant subscriber growth…