Paramount+ gains 5.6 million subscribers in fourth quarter

Paramount has had a bit of a mixed bag in recent business updates. Their TV media segment took a hit with a 4% year-over-year decrease in revenue, thanks to a dip in linear advertising and fewer major sports events showing up on CBS. Even Sonic the Hedgehog 3 hitting it big at the box office couldn’t keep their filmed entertainment division from posting a $42 million adjusted operating loss, mostly due to the extra cash needed for marketing on new releases.

But fear not, streaming fans! Paramount+ had a real moment of glory by racking up an impressive 5.6 million new subscribers in just one quarter. That’s their biggest surge in two years, and you can bet they’re feeling pretty good about it. New must-watch shows like The Agency, Landman, and Lioness are definitely helping to draw in the crowds.

The Co-CEOs, George Cheeks, Brian Robbins, and Chris McCarthy, are thrilled about the progress at Paramount. They released a joint statement praising the company’s move toward focusing on streaming. With a $1.2 billion boost in DTC profitability in 2024, Paramount+ was the standout star, adding 10 million new subscribers and increasing revenue by 33%. The Co-CEOs are confident that Paramount+ will hit full-year domestic profitability by 2025.

In the fourth quarter, Paramount+ saw record levels of engagement, even snagging the #2 spot for hours watched on domestic SVoD platforms with their Original Series. The Co-CEOs made sure to shout out their hard-working teams and creative partners, acknowledging that these impressive milestones wouldn’t have been possible without their dedication.