Paramount+ added 9.9 million subscribers in Q4 2022

Paramount+ Added Record 9.9M Subscribers in Q4 and Grew Revenue 81% Year-Over-Year

NEW YORK — Paramount Global (NASDAQ: PARA) (NASDAQ: PARAA) today announced financial results for the fourth quarter and full year ended December 31, 2022.

Direct-To-Consumer

Q4 Highlights

• Global DTC subscribers rose to more than 77M.
  • Reflects the addition of 10.8M DTC subscribers in the quarter.
  • Paramount+ subscribers grew to nearly 56M following a record quarterly increase of 9.9M subscribers.
    • Subscriber growth was driven by a strong content slate, including the NFL, the expansion of existing franchises like Top Gun: Maverick and 1923, the success of new franchises like Tulsa King and Smile, as well as CBS’s overall entertainment slate.
    • Internationally, Yellowstone and Top Gun: Maverick were top acquisition drivers for the service.
    • On a full year basis, Paramount+ continued to benefit from a partnership-based approach, including establishing and expanding relationships with Walmart, Delta, Sky, Canal+, Amazon and Roku.
    • According to Antenna, since launch Paramount+ is the #1 premium streaming service in domestic sign-ups and gross subscriber additions, and had the most sign-ups in 2022.
• Pluto TV increased global MAUs by 6.5M in the quarter driven by growth in all markets and expansion into Canada.
  • Grew global total viewing hours strong double digits quarter-over-quarter and year-over-year.

Q4 Financials

• DTC revenue increased 30% year-over-year.
  • Paramount+ revenue grew 81% year-over-year.
  • Subscription revenue grew 48% year-over-year, principally reflecting paid subscriber growth on Paramount+.
  • Advertising revenue rose 4% year-over-year.
• Adjusted OIBDA decreased $73 million year-over-year, reflecting investments in content and international expansion.