Paramount Global reported 63 million global streaming subscribers in the latest quarter, up from 61 million at the end of June. While the streaming market is still dominated by giants like Netflix and Disney+, Paramount Global’s streaming service, Paramount+, continues to grow. The company also reported a 10% increase in operating income profit for the third quarter compared to the same period last year.
Paramount Global has been focusing on its streaming ambitions, and it has made efforts to reduce costs and integrate its services. For example, it has sunset its standalone Showtime app and raised prices. It’s banking on streaming to be a key part of its future, despite ongoing losses in its direct-to-consumer division.
As the streaming market continues to evolve, Paramount Global, with its wide range of content from Paramount Studios, CBS, Showtime, MTV, Comedy Central, BET, and Nickelodeon, is striving to compete at scale with major players like Netflix and Disney+.
The company is also making changes to its programming lineup, with the final episodes of the popular series Yellowstone set to air on the Paramount Network in November next year. Additionally, it’s announced two more spinoffs of the show, showing its commitment to franchise-building in the streaming era.
