Since rebranding erstwhile subscription streaming platform CBS All Access to Paramount+ less than two years ago, the service has tracked the fastest subscriber growth across the entire SVOD market, which includes Netflix, Disney+, Prime Video, Peacock and HBO Max. The service ended the most-recent fiscal period with 46 million subscribers, which, when combined with Showtime Anytime, BET+ and Noggin, totaled 67 million subs worldwide for the company’s SVOD digital footprint.
Paramount’s ad-supported free streaming service, Pluto TV, ended the period with 72 million monthly active users globally.
To generate subscriber growth, Paramount has aggressively sought out third-party companies to introduce the Paramount+ service to wider audiences, including Prime Channels (access to Amazon’s massive Prime membership), Walmart+ (free streaming members), and free access to international passengers on British Airways and most recently, domestic travelers on Delta Air Lines, one the nation’s largest carriers handling 50 million passengers annually.
To Jeff Schultz, chief strategy officer and chief business development officer of Paramount Streaming, the moves underscore the media company’s goal to expose subscription streaming and free, ad-supported content to a diverse consumer base across the world’s largest retailer, e-commerce platform and airline.
With streaming the focus among Paramount’s content studios, brands, franchises, ad sales and distribution, product and technology in 30 markets around the globe, being able to attract a household of users (rather than individuals) through diversity of content such as kids content, procedurals, sports and news, is a competitive advantage , according to Schultz.
In addition to the “Top Gun,” “Paw Patrol,” “Scream,” “Sonic the Hedgehog” and “Mission: Impossible” movies, Paramount+ offers access to TV franchises such as “Criminal Minds,” “SpongeBob,” “NCIS,” “CSI” and “Yellowstone.”
“Paramount brings a unique level of creativity and ambition to deal-making and we’re not satisfied unless we’re doing deals that are different and differentiated from others,” Schultz said in the company’s “Stream On” interview.
The executive contends that the diversity of content, franchises and distribution are all distinct competitive advantages that money can’t buy.
“A franchise is not a decision, it’s an asset,” Schultz said. “What the streaming market has shown us in recent years is that money is not enough. We bring that to streaming as a unique competitive advantage over even the biggest streamers.”