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Tuesday, June 25, 2024
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Paramount+ Adds Record Subscribers With Help of NFL

  • Paramount+ subscribers increased a record 9.9 million in the three months ending Dec. 31.
  • The streaming service airs the NFL's AFC Sunday games as part of a broader deal with Paramount..
The broadcast studio and pundits on the Paramount+ series, 'Inside The NFL'.
Paramount+

Paramount’s streaming service had record subscriber growth in its fourth quarter, partially thanks to its NFL content.

Paramount+ subscribers increased a record 9.9 million to nearly 56 million in the three months ending Dec. 31. 

The streaming service — which saw revenue increase 81% year-over-year — airs the NFL’s AFC Sunday games as part of a broader deal with Paramount reportedly worth $2.1 billion per season.

Paramount also announced it would increase prices for Paramount+ — previously CBS All Access — when the service combines with Showtime in the third quarter, which coincides with the start of another NFL season.

CFO Naveen Chopra said the premium tier will jump from $9.99 to $11.99, while its lower tier will increase by $1 to $5.99. The former will include Showtime content.

The NFL brought in viewers on traditional TV, too. Paramount reported that CBS had the highest average viewership among all networks during the NFL playoffs.

The company’s earnings report wasn’t all positive. 

Paramount reported $8.13 billion in fourth-quarter revenue — missing analysts’ estimates of $8.17 billion — and $21 million in net profit. Its direct-to-consumer business revenue rose 30% to $1.4 billion.

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