Paramount+ Reaches 79 Million Subscribers, Streaming Loss Reduced to $109 Million

Paramount Global added to its success story last Thursday with the release of their first-quarter financial results. Surpassing expectations, the company reported 79 million Paramount+ streaming subscribers globally, a significant 11% increase from the previous year. This growth is up from the 77.5 million subscribers at the end of the fourth quarter of 2024. During the latest quarter, Paramount+ welcomed 1.5 million new subscribers, a notable achievement despite the lower number compared to the previous quarter.

Showing a positive trend, Paramount Global shared that their streaming sector experienced a reduced loss of $109 million for the first quarter of this year, a significant improvement from the $286 million loss in the last quarter of 2024. The company’s direct-to-consumer revenue also rose by 9% to $2.04 billion, driven by a 16% increase in subscription revenue, totaling $1.57 billion. This growth was supported by the success of services like Pluto TV and Paramount+.

During the post-market analyst call, Paramount Global’s co-CEO Chris McCarthy indicated a cautious approach to managing costs amidst economic uncertainties. Despite potential challenges due to the current economic climate, McCarthy emphasized the studio’s commitment to strategic investments while actively seeking ways to reduce non-content expenses. CFO Naveen Chopra highlighted a perceived increase in macroeconomic uncertainty, particularly in advertising, emphasizing the need for ongoing vigilance and adaptability in response to market dynamics.