Observed Signal · May 4, 2026 · Earnings Report · Source: Cord Cutters News · Impact: 4/5 · Sentiment: Positive
Paramount+ Posts Subscriber, Revenue Growth in Q1 2026
Paramount Skydance reported Q1 results and provided an update on its planned acquisition of Warner Bros. Discovery (WBD). The company posted $7.3 billion in revenue (up 2% year-over-year) and said its direct-to-consumer streaming business earned $2.4 billion (up 11% YoY). Paramount+ added 700,000 net subscribers and saw ARPU rise 14%. CEO and Chairman David Ellison said Paramount has satisfied U.S. HSR obligations for the roughly $110 billion WBD transaction and expects to finalize the deal by the end of Q3, while international regulatory approvals remain in progress. Paramount plans to merge the tech stacks behind Paramount+, BET+ and Pluto TV this summer to improve personalization and ad monetization, and highlighted a new performance-focused ad product called Precision+ and the addition of vertical video to Paramount+.
Quarterly earnings from a major streaming owner showing revenue growth, positive DTC adjusted EBITDA, subscriber momentum, and planned platform/FAST updates materially affect streaming monetization, ad inventory quality, and CTV/OTT advertising opportunities.
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Key Takeaways & Evidence Grounding
- Paramount Skydance reported $7.3 billion in Q1 revenue, a 2% year-over-year increase.
- Direct-to-consumer streaming revenue was $2.4 billion, up 11% year-over-year.
- Paramount+ added 700,000 net subscribers in the quarter; ARPU increased 14%.
- Paramount Skydance says it has fulfilled U.S. HSR obligations for the ~$110 billion planned acquisition of Warner Bros. Discovery and expects to close the deal by the end of Q3 2026; international approvals remain pending.
- Paramount plans to merge the tech stacks for Paramount+, BET+ and Pluto TV over the summer and launched a new ad product called Precision+; vertical video was added to the Paramount+ app.
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Paramount+ Adds 2M Subscribers; Q2 Revenue $6.9B
Paramount Skydance Corporation reported second-quarter 2026 results showing continued streaming growth after the Skydance merger. Paramount+ added 2 million subscribers to reach 81.6 million worldwide, with average revenue per user up roughly 12% year-over-year; direct-to-consumer revenue rose to $2.5 billion and DTC adjusted EBITDA grew to $366 million (14.8% margin). Company-wide revenue was $6.9 billion (up ~1%), while adjusted EBITDA increased 27% to $1.1 billion. Studios revenue improved and swung to positive adjusted EBITDA; television media revenue declined due to softer advertising and affiliate fees but margins strengthened through cost controls. Management raised a $2.7 billion enterprise efficiency target, guided full-year 2026 revenue to about $30 billion with adjusted EBITDA of $3.8–$3.9 billion, and reported regulatory clearances in 65 jurisdictions for the proposed Warner Bros. Discovery acquisition, expected by end of Q3 2026 subject to remaining conditions.
Week in Charts: Paramount-WBD deal, UK Video Ad Spend, AI Brand Risks
This week's VideoWeek charts cover several key industry trends. First, UK digital ad spend reached £21.2 billion in H1 2026, with video up 18% to £5.1 billion, driven by CTV and streaming. Second, research from Parks Associates shows the number of standalone US streaming services declining since 2022, with services like BET+ merging into Paramount+ and FIFA+ moving to DAZN. Third, a Havas survey reveals half of consumers across seven markets feel brands using AI appear 'soulless' and 'cold'. Fourth, PwC forecasts the Italian video ad market to reach €4.4 billion by 2030, with broadcast TV retaining 86% share. In stocks, Paramount Skydance shares rose as its $110 billion acquisition of Warner Bros. Discovery nears, while The Trade Desk hit a 52-week low following a 15% workforce reduction.
Pluto TV Adds 200+ Horror Movies for Halloween
Pluto TV, Paramount's free ad-supported streaming service, is launching its largest-ever horror collection for October 2026. Beginning October 1, the 'Halloween Hits' on-demand library will feature over 200 titles spanning slashers, supernatural thrillers, found-footage films, horror-comedies, and franchise entries. Key groupings include the 'Scream' series celebrating its 30th anniversary, 'Friday the 13th' and 'Sleepaway Camp' franchises, 'Paranormal Activity' installments, Stephen King adaptations, early 'Resident Evil' films, and a 'Lighter Haunts' section with horror-comedies. The lineup also includes $100M box-office hits like 'World War Z' and 'A Quiet Place Part II', debuting October 11. Dedicated themed linear channels will complement the VOD offering. The collection mixes recent hits like 'Hereditary' and 'Talk to Me' with classics from the 1960s-1990s.
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