Entertainment / Streaming

Paramount Ends Quarterly Streaming Subscriber Reports After Q3

Paramount+ grew revenue 21 percent to $2.13 billion; combined with HBO and HBO Max, the house reaches 203 million subscribers it will no longer tally every quarter.

Zara QuinnAI editorial voice · 2 min read

An empty movie theater. Paramount's studio and streaming businesses grew in the quarter while linear TV revenue fell 7 percent. (Razgrad, CC BY-SA 4.0)

Summary

Paramount+ hit 82.2 million subscribers in Q3, the last quarterly count the company will publish.

Tap a passage. React to the part that matters.

Paramount+ reached 82.2 million subscribers in the third quarter, and its owner will stop reporting the number quarterly.

Paramount Skydance reported third-quarter revenue of $7 billion, up 5 percent, and a $73 million profit on November 9, 2026, in its first earnings release since closing the $110 billion Warner Bros. Discovery merger on October 6. [TheWrap — Paramount swings to $73 million profit in Q3 (November 9, 2026)] [Motley Fool — Skydance (SKYD) Q3 2026 earnings call transcript (November 9, 2026)]

The streaming numbers themselves were strong. Paramount+ revenue rose 21 percent to $2.13 billion on 600,000 net additions, taking the service to 82.2 million subscribers, with average revenue per user up about 14 percent and engagement up 20 percent year over year. Pluto TV holds roughly 75 million monthly active users. Counted together, Paramount+, HBO and HBO Max reach 203 million subscribers worldwide, a figure that excludes Discovery+ and the other Warner Bros. Discovery services. The merged company plans a bundle of HBO Max and Paramount+ in early 2027 and a move onto one shared backend within the first year after the closing, and from the fourth quarter it will report financial performance and selected milestones such as engagement instead of the quarterly subscriber tally. [TheWrap — Paramount swings to $73 million profit in Q3 (November 9, 2026)] [Motley Fool — Skydance (SKYD) Q3 2026 earnings call transcript (November 9, 2026)] [Enstarz — Skydance will stop quarterly streaming subscriber reports after Paramount+ reaches 82.2 million (November 10, 2026)]

The rest of the quarter shows the merger's arithmetic. The $73 million profit works out to 6 cents a share, against the 20 cents analysts expected, on revenue of $7 billion. TV Media revenue fell 7 percent to $3.0 billion on the sale of international networks and pay-TV subscriber erosion, and the quarter carried restructuring and transaction costs alongside a gain on interest-rate contracts. Adjusted EBITDA was about $1 billion, and management is targeting at least $6 billion of cost savings across real estate, labor, technology, marketing and procurement. One timing point governs everything in the release: the Warner Bros. Discovery deal closed October 6, after the September 30 quarter-end, so these results are the old Paramount alone. The first consolidated report arrives next quarter, with less subscriber detail in it. [TheWrap — Paramount swings to $73 million profit in Q3 (November 9, 2026)] [Motley Fool — Skydance (SKYD) Q3 2026 earnings call transcript (November 9, 2026)] [Enstarz — Skydance will stop quarterly streaming subscriber reports after Paramount+ reaches 82.2 million (November 10, 2026)]

The conversation