Paramount Global’s move to direct-to-consumer helped grow revenues in the segment by 95%.
Streamer Paramount+ added 4.6 million subscribers on the quarter as the service continues its rollout.
But the TV segment underperformed and was down $4.9 billion (5%) when compared to the previous quarter as traditional pay-TV subscribers declined. TV includes broadcast network CBS, MTV, Nickelodeon and premium channel Showtime.
Advertising on Paramount Global’s TV networks also fell by 3% to about $1.9 billion.
Paramount+ now has 46 million subscribers with the addition of 4.6 million subscribers, and the removeal of1.9 million in the Nordics, where the service has already been replaced by SkyShowtime.
Paramount+ was the number one streaming service in the United States in terms of sign-ups and gross subscriber additions year-to-date according to Antenna’s September 2022 Report.
Pluto TV maintained its lead in the FAST TV sector and now has 72 million monthly active users globally.