Other streaming services continue to grow despite a slight drop in Netflix. Paramount+ boasts nearly 40 million subscribers, according to Paramount Global. 6.8 million people were added during the quarter. The increase is most likely due to the long-awaited Halo show, as well as Star Trek: Picard’s premiere.
Revenue increased by 148% due to a 23.1 million increase in subscribers in a year. $585 million was spent.
The strength and potential of Paramount’s unique projects, according to Paramount Global CEO and President Bob Bakish, has helped the company grow.
The service, however, is still a long way from Netflix, which has more than 200 million subscribers around the world.