Paramount loses nearly 3 million global subscribers during Q2
A promotional tile for the show “Yellowjackets” appears on the Paramount Plus with Showtime app. (Graphic by The Desk)
Paramount Global lost nearly three million global paying subscribers at its streaming service Paramount Plus during the second financial quarter (Q2) of the year, the company affirmed on Thursday.
The loss of 2.8 million subscribers to Paramount Plus was largely due to the winding down of a “hard bundle agreement” in South Korea, where its service was available to customers of Tving.
Overall revenue from Paramount’s streaming products came in at $1.88 billion during the quarter, a 13 percent increase from one year ago. It was the only segment of Paramount’s business to post a financial gain during the period.
TV media revenue came in at $4.217 billion during Q2, or 17 percent lower than Q2 2023, while filmed entertainment brought in $679 million, down 18 percent on a year-over basis.
Total revenue from Paramount’s businesses...
Paramount Global lost nearly three million global paying subscribers at its streaming service Paramount Plus during the second financial quarter (Q2) of the year, the company affirmed on Thursday.
The loss of 2.8 million subscribers to Paramount Plus was largely due to the winding down of a “hard bundle agreement” in South Korea, where its service was available to customers of Tving.
Overall revenue from Paramount’s streaming products came in at $1.88 billion during the quarter, a 13 percent increase from one year ago. It was the only segment of Paramount’s business to post a financial gain during the period.
TV media revenue came in at $4.217 billion during Q2, or 17 percent lower than Q2 2023, while filmed entertainment brought in $679 million, down 18 percent on a year-over basis.
Total revenue from Paramount’s businesses...
- 08/08/2024
- di Matthew Keys
- The Desk
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