Paramount (US:PARA)2022-02-16 09:08Financial Data and Key Metrics Changes - In Q4 2021, ViacomCBS added 9.4 million new streaming subscribers, with 80% on Paramount+ [19] - Pluto TV gained a record 10 million monthly active users in Q4, reaching nearly 65 million monthly actives, and generated over $1 billion in revenue for the full year 2021, almost five times the revenue from two years ago [20] - The company anticipates reaching 100 million subscribers by 2024, up from the previous estimate of 65 million to 75 million [36] Business Line Data and Key Metrics Changes - Paramount+ was named the fastest-growing brand of 2021 across all industries, not just streaming [22] - The company had the top four entertainment programs on all of television in Q4, including CBS's NCIS and Paramount Network's Yellowstone [23] - Paramount+ will become the streaming home for all new Paramount movies starting with 2024 releases [80] Market Data and Key Metrics Changes - The company is expanding its streaming service to new markets, including the U.K., South Korea, and the Caribbean by summer 2022 [39] - Paramount+ is leveraging partnerships with local providers to enhance its market presence, such as a new partnership with Canal+ in France [43] - The NFL on Paramount+ has seen an 88% increase in active subscribers and a 67% increase in minutes streamed during the last football season [106] Company Strategy and Development Direction - The company aims to harness the strength of its traditional business to fuel growth in streaming, focusing on a broad content offering across various genres [9][26] - Paramount+ is positioned to serve a diverse audience, with tailored content for different demographics and regions [27][60] - The company is committed to creating a sustainable streaming business, leveraging its existing platforms and global reach [31][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver shareholder value and achieve subscriber growth ahead of schedule [7][35] - The company sees a massive opportunity in streaming, with plans to expand its global footprint and enhance user experience [45][46] - Management highlighted the importance of leveraging existing franchises and creating new content to drive engagement and retention [66][100] Other Important Information - The company has launched 20 linear franchises and genre channels in the U.S. on Paramount+, which have increased user engagement significantly [49] - Paramount+ is focusing on enhancing its service with personalized experiences and innovative features to attract and retain subscribers [46][50] - The company is committed to building a diverse content library, including new series and films across various genres [75][81] Q&A Session Summary Question: What are the subscriber growth expectations for Paramount+? - The company anticipates reaching 100 million subscribers by 2024, significantly raising its previous guidance [36] Question: How is Paramount+ expanding its market presence? - Paramount+ is launching in new markets and forming strategic partnerships to enhance its distribution and reach [39][43] Question: What is the strategy for content on Paramount+? - The strategy includes leveraging existing franchises, creating new content, and enhancing user experience to drive engagement [66][100]