You might think that network-specific streaming services like Supreme + no chance in a tough market when even Netflix is confused, but it seems to be thriving. Companies have disclosure Paramount+ added 3.7 million subscribers in the second quarter, for a total of more than 43 million users. And that’s after pulling out of Russia – without that, the service would have added 4.9 million viewers.
ViacomCBS partly recorded an increase in expansion to more countries, including Great Britain, Ireland and Korea. However, it also indicates success with content that includes Halo series, Star Trek: Strange New Worldsmovies like Sonic the Hedgehog 2 and live Champions League matches. However, Paramount+ is still leaning on sci-fi audiences, but not as much as it used to.
Paramount+ subscribers are still small compared to Netflix (220.7 million) and Amazon Prime Video (over 200 million). Its growth, however, is a stark contrast to Netflix’s nearly 1 million lost subscribers. The company also wanted to note that it had the most subscriptions and net additions of any US-based paid subscription streaming service during the quarter, according to Antenna data. In other words, Paramount+ has outperformed all of its major competitors, including Apple TV+, Hulu, and Peacock.
Whether that trend will continue is uncertain. Paramount+ is still expanding to more countries and will be available in 60 markets by the end of the year. It can count on newcomers to increase its numbers for a while. However, in the end, streamers will rely more on the quality of the catalog to grow their audience. And while there have obviously been some hits, heavyweights like Amazon and Netflix still have a lot of money and motivation in their favor.
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