Paramount Global's DTC Subs Topped 62M in Q1, 2022
Paramount+ added 6.8M subs and Pluto TV expanded its active users to nearly 68M in Q1 2022
NEW YORK—Paramount Global reported increases in its direct-to-consumer (DTC) business in Q1, 2022 with DTC revenues up 82% year-over-year to $1.1 billion.
During the same quarter Paramount grew total global streaming subscribers to more than 62 million, with Paramount+ adding 6.8 million subs.
Meanwhile Pluto TV expanded its global monthly active users (MAUS) to nearly 68 million and grew total global viewing hours by double digits, year-over-year, the company reported in its Q1 2022 earnings report.
The company’s DTC operations also saw a 95% growth in DTC subscription revenue, fueled by Paramount+ sub gains and its DTC ad revenue jumped by 59%, driven by Pluto TV.
But increased investments in program, produced larger loses. Adjusted operating income before depreciation and amortization (OIBDA) decreased by $307 million year-over-year.
While usage of both Paramount and Pluto TV increased, other DTC streaming services saw a drop in subscribers, primarily due to timing of new programming.
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George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.