Paramount shared its Q4 2024 and full year financial results Wednesday. The report showed an increase in subscribers on Paramount+, with the streaming service adding 5.4 million subscribers in Q4 and 10 million for the full year. Paramount says the increase was driven by original series including Landman, Tulsa King, and Lioness, along with two Showtime series, The Agency and Dexter Original Sin, which are available with the Paramount+ with Showtime plan.
The company says Paramount+ is the number two SVOD service in the country and says it’s the strategy of fewer, better originals that are making the service rise above the competition.
Paramount also noted growth for Pluto TV. The free streaming service saw a 16% increase in hours watched in Q4 and an 8% increase for the entire year.
“We are proud of the transformative year we delivered since becoming Co-CEOs, which marks a significant turning point for Paramount as we shift into a streaming-first company,” said Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins. “DTC profitability improved $1.2 billion in 2024, driven by an impressive year at Paramount+, where we added 10 million new subscribers and delivered a 33% increase in revenue, which gives us great confidence Paramount+ will achieve full year domestic profitability for 2025. In Q4, Paramount+ saw the highest level of engagement yet and achieved a new record, ranking as the #2 domestic SVOD service for hours watched across all Original Series. These remarkable achievements would not have been possible without the hard work of our talented teams and creative partners for whom we are deeply appreciative.”
In addition to streaming, Paramount shared wins across its linear networks. The report says that the NFL on CBS account for three of the top four regular season games this season, averaging over 19 million viewers. Paramount also says that CBS held 7 of the top ten spots for primetime programming for the year. The biggest titles on the network include Tracker and Matlock. Unsurprisingly, Yellowstone was also a huge win for Paramount. The season premiere saw 18 million total viewers on premiere night and was the number one show on cable for the quarter and the full year, according to the earnings report.