Streaming Services News

Paramount's Streaming Price Hike Sparks Stock Surge and Growth Forecasts

Paramount has announced that there will be "continued opportunities" to increase streaming prices, following the success of recent price hikes. The company's CFO, Naveen Chopra, stated that pricing could play a role in growing revenue and earnings in their streaming business. Paramount+ added 2.7 million subscribers in Q3, surpassing expectations, and subscription revenue grew by 46%. Despite a direct-to-consumer loss of $238 million, narrower than expected, the company anticipates lower losses in 2023. Streaming prices have been increasing across the industry, with Apple, Netflix, Disney, and Hulu all raising their prices recently.