Paramount Plus is officially a success, while Netflix risks it all over passwords
Paramount Plus climbs its Everest
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Paramount Plusis in ascendance, having topped60 million subscribersfor the very first time.
That’s largely thanks to Star Trek – with the latest seasons ofStar Trek: PicardandStrange New Worldsbringing Trekkies in their droves – as well as theYellowstonespin-off show1923.
With the help of NFL playoff broadcasts, and the option to bundle Showtime’s TV library (Yellowjackets,Billions, etc) into your subscription, Paramount Plus has managed to grow its number of subscribers in a pretty considerable way – even with thesmall price hikethat came with the Showtime merger.
The streaming service, formerly known as CBS All Access, has certainly had some catching up to do. Despite launching in 2014, the service has been outpaced by newer offerings such asDisney Plus, which launched with a level of cultural capital (Disney, Pixar,Marvel,Star Wars) few other platforms could dream of. And while Paramount Plus is still far behind Disney’s 150+ million subscribers, it’s clearly carved out a space for itself in a highly competitive market.
It’s a different story over atNetflix, however – the once-dominant streaming service now seeing its market share attacked from all angles, as it desperately tries to balance its aim of making a profit with keeping its high subscriber count.
Psst, what’s the password?
Netflix, like any streaming platform, tends to see its subscriber number fluctuate, depending on what shows are being released and when. We saw that number surge with the arrival ofSquid Game, orStranger Thingsseason 4, while the service lostalmost a million subscribersin the middle of 2022. It’s a rocky moment for the former king of streaming, then, and one that’s pushing Netflix into some desperate measures – in particular,cracking down on password sharing.
Netflix initially encouraged password sharing as a way to get the platform into more households, but the tide is clearly changing. After a number of trials in Canada, Latin America and elsewhere, Netflix is ready to roll out more stringent rules across the rest of its territories, limiting accounts to singular households after June 30.
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Netflix sees its trials as a success, when it comes to better monetizing its subscriber base, though it should expect some bitterness from families or networks of friends who can no longer share an account on the cheap –Netflix knows it will lose subscribers, but believes that they’ll come back.
Some recentimprovements to the cheapest, ad-supported tiershould help users sign on without too much more expense to themselves, though the sense of community around a Netflix account is being gradually eroded. That, along with the panicked actions ofShadow & Bonefans whodon’t trust Netflix not to cancel their favorite show and are gaming the system, doesn’t paint a picture of a happy subscriber base.
As alternative options among thebest streaming servicesgrow in popularity, it’s clear that Netflix can only risk the goodwill of its user base so much.
Henry is a freelance technology journalist, and former News & Features Editor for TechRadar, where he specialized in home entertainment gadgets such as TVs, projectors, soundbars, and smart speakers. Other bylines include Edge, T3, iMore, GamesRadar, NBC News, Healthline, and The Times.
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