Jayant noted that Paramount Plus has made sequential improvements in downloads each quarter since it was launched in 2021. Meanwhile Paramount Plus downloads were up 19% in June on a year-over-year basis and up 11% month over month, contributing to record download activity in the second quarter. He added that monthly active users were down 5% from last year, but flat versus May. Jayant notes that the negative app download trends “are broadly consistent with management’s commentary about gross adds stabilizing at a lower level than historically and net adds being negatively impacted by higher churn.” Its stock plunged and the company announced plans to restrict password sharing and launch an ad supported tier to rekindle growth. Netflix shocked the streaming industry by reporting a loss of 200,000 subscribers in the first quarter. Downloads were up 8% in Europe-Middle East and 1% in Latin America.Ĭompared to May, downloads were up 14% in U.S.-Canada and 1% in Europe-Middle East, but down in Asia-Pacific and Latin America. The drop was biggest year over year in the Asia-Pacific and United States-Canada regions at 16% and 13% respectively.
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