Paramount+ has roughly 70 million subscribers worldwide as of late 2024

Paramount Global stopped reporting exact subscriber counts in early 2024, so the most recent public figure comes from their last earnings announcement. At that point, Paramount+ held around 70 million subscribers across all regions. The company now reports a combined number for both Paramount+ and Pluto TV (their free ad-supported service) rather than breaking them out separately, which makes tracking the streaming service alone harder than it was before.

The subscriber base has grown unevenly. Paramount+ added millions of users when it launched in 2021, then growth slowed in 2023 and 2024 as the streaming market became more crowded. Price increases and password-sharing crackdowns also affected retention. The service remains smaller than Netflix (which has over 250 million subscribers) and Disney+ (which has over 150 million), but larger than several other major streamers.

Key Takeaways

  • Paramount+ reported approximately 70 million subscribers in its last public count, though the company no longer breaks out exact numbers by service.
  • Growth has slowed since 2023 as the streaming market became saturated and the service raised prices.
  • Paramount+ is smaller than Netflix and Disney+ but competes in the middle tier of major streaming platforms.
  • The company now combines Paramount+ and Pluto TV subscriber numbers in earnings reports, making it harder to track the paid service alone.

Why Paramount stopped reporting subscriber numbers

In February 2024, Paramount Global announced it would stop disclosing Paramount+ subscriber counts in quarterly earnings reports. The company said it would instead focus on revenue and profitability metrics, which are harder to manipulate and more relevant to investors. This move followed similar decisions by other streamers: Netflix stopped reporting subscriber growth as a headline metric in 2022, and Disney began combining Disney+, Hulu, and ESPN+ into a single subscriber pool.

The shift reflects a broader change in how streaming companies measure success. Early on, subscriber count was the main way investors judged a streamer's health. Now, the industry has moved toward metrics like average revenue per user, churn rate (how many people cancel), and operating profit. A streamer with fewer subscribers but higher prices and lower cancellation rates can be worth more than one with millions of cheap accounts.

How Paramount+ compares to other major streamers

Paramount+ sits in the second tier of streaming services by subscriber count. Netflix leads with over 250 million paid subscribers. Disney+ has grown to over 150 million. Amazon Prime Video, which bundles streaming with shipping and other perks, has roughly 200 million users, though not all pay specifically for video. HBO Max (now called Max) has around 60 million subscribers.

Paramount+ is ahead of services like Apple TV+ (which has roughly 25 million subscribers) and Peacock (which has around 35 million paid subscribers, though millions more use the free tier). The gap between Paramount+ and the top two streamers is significant, but the service has enough content and users to remain a major player in the market.

Regional breakdown of Paramount+ subscribers

Paramount+ operates in multiple regions, but the company does not break down subscriber numbers by geography. The United States is the largest market, where the service launched first and has the deepest content library. International expansion has been slower and more selective. The service is available in Canada, the United Kingdom, Australia, Latin America, and parts of Europe, but not everywhere.

Growth outside the U.S. has been modest compared to competitors like Netflix, which operates in nearly every country. Paramount's international strategy has focused on markets where it already had strong brand recognition through its film and television studios, rather than pursuing global saturation. This regional approach means the U.S. likely accounts for the majority of the 70 million subscriber figure.

What drove subscriber growth and decline

Paramount+ grew rapidly in its first two years. The service launched in March 2021 with a large library of CBS shows, movies, and originals. By the end of 2021, it had reached 32 million subscribers. Growth continued through 2022 and early 2023, reaching around 60 million by mid-2023. Much of this came from bundling deals with other services and from people switching from cable to streaming.

Growth slowed sharply in 2023 and 2024. Price increases (the service raised its ad-free tier from $11.99 to $13.99 per month in 2023) pushed some subscribers away. Password-sharing restrictions, which Paramount implemented to prevent account sharing across households, also caused churn. Competition intensified as Netflix, Disney, and others invested heavily in original content. The overall streaming market became saturated, meaning fewer new customers were available to convert.

How subscriber counts affect Paramount's business strategy

Even though Paramount no longer reports subscriber numbers publicly, the company still tracks them internally and uses the data to guide decisions about content spending, pricing, and bundling. The shift to profitability over growth has meant fewer big-budget originals and more focus on cost control. Paramount has also leaned harder into bundling—offering Paramount+ with other services like Showtime and CBS All Access to increase the total value proposition.

The company is also investing in advertising. Paramount+ offers a cheaper ad-supported tier ($5.99 per month), and the company has been pushing users toward that option to increase revenue without raising prices further. This strategy mirrors what Netflix, Disney+, and others have done. The goal is to grow revenue and profit per subscriber rather than chase raw subscriber numbers.

What the future may hold for Paramount+ growth

Paramount+ faces headwinds in the near term. The streaming market is mature in the U.S., meaning most people who want a streaming service already have one. International growth remains an opportunity but requires significant investment and localized content. The company is betting on a combination of bundling, advertising, and price optimization to grow revenue rather than subscriber count.

Merger activity could also affect Paramount+ in the future. Paramount Global has explored partnerships and consolidation with other media companies. Any major deal could change how the service is positioned, priced, or bundled. For now, the company appears focused on stabilizing its subscriber base and improving profitability rather than chasing growth at any cost.

Frequently Asked Questions

Is Paramount+ losing subscribers?

Paramount+ stopped reporting exact subscriber numbers, so it is hard to say definitively. However, the company's shift away from subscriber-focused metrics and its emphasis on profitability suggest growth has slowed or stalled. Industry reports and analyst estimates suggest the service may have lost some subscribers in 2024, but the company has not confirmed this.

Why does Paramount+ cost more than some competitors?

Paramount+ prices its tiers based on what it thinks the market will bear and what it needs to earn to cover content costs and turn a profit. The ad-free tier costs more because it generates no advertising revenue. The company also bundles Paramount+ with other services like Showtime to justify higher prices for customers who want multiple offerings.

Is Paramount+ worth the subscription cost?

That depends on what you watch. Paramount+ has a strong library of CBS shows, movies from Paramount Pictures, and originals like Yellowstone and The Offer. If you watch those regularly, the service may be worth it. If you only want one or two shows, a month-to-month subscription might make more sense than an annual commitment.

How does Paramount+ subscriber count compare to cable TV?

Cable TV still has more total viewers in the U.S., but the number has been declining for years. Paramount+ and other streamers are growing, while traditional cable loses subscribers every quarter. Within five to ten years, streaming services combined will likely have more viewers than cable, though no single streamer will match cable's historical reach.