Direct-to-consumer revenues at Paramount World have been up 82 % in Q1, however general revenues on the firm slipped by 1 % to $7.3 billion.
“The primary quarter as soon as once more demonstrated the facility and potential of Paramount’s distinctive belongings and the corporate’s continued momentum,” mentioned Bob Bakish, president and CEO. “Our differentiated playbook—together with a broad content material lineup, a streaming enterprise mannequin that spans ad-supported and subscription, and a worldwide portfolio that hyperlinks streaming with theatrical and tv—drove energy throughout our total ecosystem, together with DTC income progress of 82 % and 6.8 million Paramount+ subscriber additions. Our technique is working and our execution is robust as we stay targeted on delivering an amazing expertise for shoppers and a compelling monetary mannequin to our shareholders.”
TV media revenues have been down 6 % to $5.6 billion, partly from the year-on-year comparability to 2021, when CBS carried the Tremendous Bowl. Advert revenues fell 13 % to $2.5 billion, whereas affiliate and subscription revenues have been steady at $2.1 billion and licensing was additionally flat at $1 billion.
The direct-to-consumer phase recorded revenues of $1.1 billion, with subscription revenues up 95 % to $742 million and advert revenues up 59 % to $347 million. The corporate ended Q1 with greater than 62 million world streaming subscribers. Paramount+ added 6.8 million within the interval to succeed in virtually 40 million. Pluto TV reported virtually 68 million month-to-month energetic customers.
Filmed leisure revenues have been down 27 % to $624 million, with theatrical revenues of $131 million and licensing/different down 42 % to $491 million.