Paramount+ is coming to the United Kingdom and Ireland in June, followed by Italy, Germany, France, Switzerland, and Austria in the second half of the year. It will also launch in South Korea and is coming to India in 2023. The Paramount+ online video service is currently available in the United States, Canada, Latin America, the Caribbean, the Nordics, and Australia. It has almost 40 million subscribers so far.
“This year will be monumental for our streaming strategy as we accelerate our global ambitions, rapidly expanding Paramount+ in Europe, beginning with the UK, Italy, Germany, France and more by the end of this year, and debut in Asia with South Korea in June, followed by India in 2023,” said Raffaele Annecchino, the president and chief executive of international networks, studios and streaming at Paramount.
Paramount+ is described as a one-stop destination for the biggest Paramount brands. At launch in the United Kingdom there will be 8,000 hours of programming, including Paramount+ originals, plus shows and movies from brands including Showtime, Paramount Pictures, Comedy Central, MTV and Nickelodeon.
Paramount+ will launch in the United Kingdom and Ireland on 22 June. The service will cost £6.99 a month, or £69.90 a year, after a free seven-day trial period. It will be available on the usual range of devices, including Apple and Android phones and tablets, Apple TV, Chromecast, and Roku, with more to follow.
Paramount+ will be available on Sky platforms in the United Kingdom, Ireland, Italy, Germany, and Austria in 2022 as part of a new multi-year distribution agreement that also includes the extended carriage of the Paramount portfolio of pay television channels. Sky Cinema subscribers will get Paramount+ included at no extra cost.
Paramount+ has around 40 million subscribers, gaining 6.8 million in the first quarter of 2022.
The advertiser supported Pluto TV has 68 million monthly active users, up by 3.1 million in the quarter to 68 million.
Total direct to consumer revenue rose to over $1 billion for the first quarter of 2022, of which almost 70% was from subscriptions. However, expenses rose to $1.5 billion, producing a loss of $456 million for the quarter.
In comparison, traditional television, including the CBS network, contributed revenue of $5.6 billion for the quarter and earnings of $1.5 billion for Paramount globally.
Filmed entertainment contributed revenues of just $624 million, of which only $131 was from theatrical box office, producing a loss of $37 million.
Paramount Global was formed from the former ViacomCBS. Channel 5 in the United Kingdom is among the media assets of the global group. Paramount has been seen as a potential bidder for Channel 4, with other possible purchasers including Warner Bros Discovery, which is also making a global online play with Discovery+.