One of the largest free streaming services just got bigger. Today Paramount, the parent company behind Pluto TV, announced that it ended 2022 with 79 million active monthly users.
“Paramount continues to demonstrate the success of its global multiplatform strategy, with popular content at its core. Nowhere was this more evident than in the growth of Paramount+, which added a record 9.9M subscribers in the fourth quarter, driven by hit content like Top Gun: Maverick, 1923 and Criminal Minds: Evolution. In addition, in 2022, Paramount Pictures had 6 films open at #1 in the U.S. box office and Paramount regained its position as the most-watched media family in linear television. Our content and platform strategy is working and, with even more exceptional content coming this year, we expect to return the company to earnings growth in 2024.” Said Bob Bakish President and CEO of Paramount.
Fox’s free streaming service Tubi ended 2022 with 64 million active monthly users.
This growth in ad-supported streaming helped drive up Paramount revenues. Paramount saw revenue grow 2% overall in 2022. Streaming service revenues were up 30%, helping offset a 7% loss in TV revenue. Filmed entertainment grew 35% in 2022.
Increasingly ad-supported free streaming services like Pluto TV have become the fastest growing services in the Untied States.