Paramount+ Continues to Chase Peacock - Both Hit All-Time Revenue Highs
This is a single insight from This Week in Apps - May's Revenue Rejuvenation. Check out the full article for more insights.
Streaming platforms have been active this year, and as we head into the summer season, I expect nothing less than the race heating up. Again.
HBO Max consumed Discovery+ and turned into Max last week, Disney is doing something similar soon, and for a good reason - content is (and never stopped being) king!
And in both cases, it's mostly TV content that's key.
That could explain why Peacock and Paramount+, both of which come at streaming from the TV direction, have hit new all-time revenue highs in May.
Peacock and Paramount+ have been fairly close in terms of revenue for the last year or so. In fact, up until last October, Paramount+ was beating Peacock.
That changed in November as Peacock took the lead and hasn't given it up since.
According to our estimates, Paramount+ ended May with $18.9M of net revenue from the App Store, up a modest 3% from April. Peacock's net revenue from the App Store in May totaled $21.3M, up a healthy 7% from April. And that's all net revenue, which is what's left after Apple takes its fee.
Last week when talking about HBO Max's rebrand I mentioned how content is still the most important part in the streaming-to-revenue equation, which makes sense, but was somewhat forgotten by the big names.
It's more likely that it wasn't forgotten, and instead, it's a change in the trend. During covid lockdowns people had more time to spend on consuming content. Now, with life going back to normal and many jobs going back to the office, content consumption patterns are changing and TV content is more suited for that.
Both Peacock and Paramount+ are primed to continue their growth and I expect to see that happening faster this year.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
