NEW YORK—Paramount Global reported increases in its direct-to-consumer (DTC) business in Q1, 2022 with DTC revenues up 82% year-over-year to $1.1 billion.
During the same quarter Paramount grew total global streaming subscribers to more than 62 million, with Paramount+ adding 6.8 million subs.
Meanwhile Pluto TV expanded its global monthly active users (MAUS) to nearly 68 million and grew total global viewing hours by double digits, year-over-year, the company reported in its Q1 2022 earnings report.
The company’s DTC operations also saw a 95% growth in DTC subscription revenue, fueled by Paramount+ sub gains and its DTC ad revenue jumped by 59%, driven by Pluto TV.
But increased investments in program, produced larger loses. Adjusted operating income before depreciation and amortization (OIBDA) decreased by $307 million year-over-year.
While usage of both Paramount and Pluto TV increased, other DTC streaming services saw a drop in subscribers, primarily due to timing of new programming.
