Paramount+ and Pluto TV are increasing content investments and advancing technological integration to drive advertising revenue and subscriber growth.
Paramount this week detailed its new series lineup and technology upgrades to advertisers, aiming to enhance the performance of its streaming platforms Paramount+ and Pluto TV.
The company has introduced a new streaming strategy to catch up with competitors, focusing on producing more original series and delivering a smoother technical experience. Since the acquisition of Paramount by Skydance Media in August last year, CEO David Ellison's top priority has been a comprehensive overhaul of the company's streaming services.
This week, Paramount disclosed its progress to advertisers, unveiling a slate of new series and technical enhancements intended to increase subscriber numbers and ad revenue, thereby improving its competitive standing in the industry. The new content lineup includes several high-budget series featuring major stars such as Anne Hathaway, Nicole Kidman, and Jeremy Strong. This is part of Paramount's strategy to build a premium content library to compete with giants like Netflix, Disney+, and Amazon Prime.
Paramount stated that Cindy Holland, the former Netflix executive now overseeing direct-to-consumer operations, has greenlit 20 new and renewed series for the subscription platform Paramount+ since joining the company last year. Holland also successfully recruited Matt Duffer and Ross Duffer, the creators of "Stranger Things," who have moved from their long-time home at Netflix to Paramount.
Paramount+ has approximately 79 million global subscribers, significantly fewer than Netflix, Amazon Prime, and Disney+, and is now focused on rapidly expanding its user base. The advertiser presentation was part of the annual "upfronts" events. For Paramount, which also owns CBS, Nickelodeon, and MTV, this is a critical phase of development. The company recently agreed to acquire Warner Bros. Discovery to accelerate its streaming ambitions. If completed, the deal would also bring the HBO Max streaming platform into its portfolio.
In addition to hiring Holland, Ellison brought in former Meta and Google executive Dane Glasgow as Chief Product Officer. Glasgow's role is to enhance the platform's appeal by improving personalized recommendations and utilizing artificial intelligence to process data faster and serve advertisers more effectively. Since then, Paramount has continued its efforts to optimize the user experience.
Ellison has made clear his willingness to make significant investments in film, entertainment, and sports to drive subscriptions and advertising revenue. A major move in this direction is a seven-year, $7.7 billion deal for UFC fight broadcasts that began this past January.
Key recent and upcoming series that Paramount will highlight to brands include "Madison," starring Michelle Pfeiffer and created by prolific producer Taylor Sheridan ("Yellowstone"), which has been renewed for a third season. Another new Sheridan series for Paramount+, "King of San Francisco" starring Samuel L. Jackson, is set to debut later this year or in early 2027.
Under Holland's leadership, Paramount+ has also become more open to acquiring content from external suppliers. "Wherever the top creators are, we want to work with them," Holland said.
Paramount's free, ad-supported streaming platform Pluto TV is also expected to play a key role in revitalizing the direct-to-consumer business, including through increased investment in replaying popular classic series. The platform reported 90 million monthly active users last year. "Pluto TV is no longer just about classic channels like 'Gunsmoke'," Holland noted.
The company is expanding the number of series and movies available for on-demand viewing on Pluto TV. Glasgow stated that on-demand viewing on Pluto TV grew by 50% over the past year.
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