Movies

Paramount Is Having One Heck Of An Upswing Thanks To ‘Top Gun Maverick’ And A Jump In Streaming Subscribers

While HBO Max and Netflix are going through some things, Paramount+ continued to rack up subscribers to give its parent company one heck of a second quarter. The streaming service picked up 3.7 million subscribers during the quarter, and that’s after losing 1.2 million from a disconnect in Russia. According to the latest earnings report, Paramount+ now sits at 43.3 million subscribers. Even better, revenue for the streaming service doubled to $672 million, which coupled with Top Gun: Maverick‘s dynamite box office, is making Paramount look very good compared to its competitors who have not been having the best of luck.

“Our deep and growing library of valuable IP, coupled with the strength of our best-in-class assets, ensures we are well-positioned to continue to maximize value for our shareholders,” CEO Bob Bakish said in a statement.

Via Variety:

The pickup for Paramount+ comes as growth for other streamers has been flat or down. Netflix shed nearly 1 million subs in Q2 (though that was fewer than expected), while paid customers for NBCUniversal’s Peacock was flat for the period at 13 million and Peacock’s overall active accounts dropped by 1 million. Warner Bros. Discovery, which owns HBO Max and Discovery+, reports Q2 earnings Thursday after market close, and Disney is set to release results Aug. 10.

As part of its strategy of pulling from its parent companies deep bench of TV shows and films, Paramount+ has been going big on its upcoming Beavis and Butt-head revival. In preparation of new episodes premiering this week, the streaming service has been working to get original seasons onto the platform. According to Comic Book, seasons four through eleven of the classic Beavis and Butt-head series are now available for your bingeing pleasure.

(Via Variety)

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