Streamer Paramount+ crossed a new milestone in September. The service, which launched in 2021, hit gross MRR of $20M.
The road to this milestone was long. Although it took Paramount+ only 5 months to hit $10M in gross MRR, doubling to $20M took 19 months, according to our estimates. Of that, Paramount gets to keep $14M as net revenue.
Most of the revenue, as you'd expect, is coming from the App Store. In September, Paramount's big month, the App Store brought in $11M in net revenue vs. $3M from Google Play. It's worth noting that 21% from Google Play is slightly higher than average.
It's also important to mention that Paramount+ is only available in the US, which limits its ability to monetize when compared to someone like HBO Max, the leader of the streamers, which earns that in about a week while being available globally.
Fun fact - HBO Max earns from Google Play just a tiny bit more than Paramount+, which is to say, there's still room for HBO Max to grow its revenue.
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