Paramount+ claimed that it added more than one million new subscribers last week and set a new record for total signups since its rebrand earlier this year.
ViacomCBS said its streaming service also set new records for most hours streamed and highest level of subscriber engagement, metrics it’s attributing to the debut of feature film “Clifford the Big Red Dog” along with new original scripted drama “Mayor of Kingstown,” the CBS event “Adele One Night Only,” and live NFL on CBS local market games. The company said had its second-most-streamed NFL regular-season week ever in terms of total minutes streamed and unique viewers.
"This week we ushered in a mix of must-see originals, a blockbuster family film and top-tier sports that appealed to the whole household. This is a content strategy we will continue to lean into as we invest in scaling Paramount+," said ViacomCBS Streaming CEO Tom Ryan in a statement. "The remarkable levels of engagement we are seeing are a testament to the power of great storytelling on the service and the sheer breadth and depth of our content offering."
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Adding one million subscribers in one week is always significant but more so considering it took ViacomCBS the entire third quarter to grow its streaming subscriber base by 4.3 million.
During the company’s most recent earnings call, CFO Naveen Chopra said Paramount+ drove most of new subscriber additions through a mix of domestic and international customers. He also hinted at some engagement growth on Paramount+, saying that the average monthly share of domestic paid subscribers active on the service (or monthly active rate) grew sequentially and year over year while average monthly hours per active domestic subscriber also grew.
Paramount+ could be due for another subscriber addition boost soon after ViacomCBS reached a new distribution deal with T-Mobile. The wireless carrier will now offer a free year of Paramount+ Essentials to its wireless subscribers, an agreement that ViacomCBS CEO Bob Bakish praised for its potential to expose new users to the platform.