Disney+ and HBO Max show streaming strength against Netflix

When it comes to streaming services, what companies don’t say is often as important as what they do.

A good general rule: The more clarity a company provides about its paying subscribers, the more confident that company is in its streaming performance. Netflix has consistently been a leader in terms of statistical clarity, providing ARPU and subscriber numbers in many regions of the country. Disney is another standout. (Both still don’t break out how many subscribers come from promotional wireless offerings, rather than pure signups, but maybe one day).

Newly named Paramount Global (formerly ViacomCBS) finally revealed specifics about its streaming services, including the number of Paramount+ subscribers (more than 32 million) and its average revenue per user (about $9 per month). Not coincidentally, Paramount also added 9.4 million global streaming subscribers and 10 million Pluto TV users in the quarter, strong results that perhaps suggest longer-term viability for the company than some skeptics had anticipated.

NBCUniversal’s Peacock also revealed more specificity this past quarter, including ARPU near $10. Still, Peacock’s reveal that only 9 million subscribers are paying for the service is an acknowledgment that the service is lagging its paid competition. (NBCUniversal is the parent company of CNBC.)

Apple still hasn’t told investors much about how many people are watching or paying for Apple TV+, a sign it hasn’t gained much traction in the streaming wars.

The following is an updated rundown of where all the major streaming services stand after reporting earnings for the calendar fourth quarter.

Disney was arguably the biggest winner this quarter, gaining 11.7 million Disney+ subscribers on the strength of Marvel shows and movies and The Beatles documentary “Get Back.” Disney’s secondary products, Hulu and ESPN+, also showed strength — both gaining subscribers and while raising ARPU. Disney reaffirmed its target of reaching 230 million to 260 million Disney+ subscribers by 2024.

Apple’s strongest growth product category this quarter aside from iPhones was in its services business, which includes video subscription services. Apple’s services grew 26% annually, higher than the company expected. Apple hasn’t broken out subscriber numbers or ARPU figures for Apple TV+ yet.

• Peacock reported 24.5 million U.S. monthly active accounts, more than 9 million of which were paid members. (The free tier is ad-supported.)
• Average revenue per user (ARPU) for Peacock is approaching $10 when both subscriptions and advertising are combined, according to Comcast CEO Brian Roberts. (Up from $6 to $7 estimates from 2020)
• Three tiers: Free with commercials, $4.99 a month for fewer ads and more content, $9.99 a month ad-free.

Peacock is on pace to top the company’s initial projections of 30 million to 35 million monthly active users by 2024. Still, Disney upped its initial projection of 60 million to 90 million subscribers all the way up to 230 million to 260 million, while NBCUniversal hasn’t changed its original estimate yet.

The first quarter of 2022 could be a good one for Peacock, which aired both The Super Bowl and the Winter Olympics on the service.

• More than 56 million global streaming subscribers, 32.8 million of which are Paramount+
• Paramount+ ARPU: About $9
• Pluto TV: 64.4 million monthly active users (up 10 million from last quarter)
• Pluto TV 2021 global ARPU: $1.64; U.S. ARPU: $2.54

The newly named Paramount Global (formerly ViacomCBS) added a record-breaking 9.4 million global streaming subscribers in the fourth quarter, totaling more than 56 million. For the first time, the company broke out Paramount+ subscriber numbers and ARPU figures for Paramount+ and Pluto TV.

AT&T said last year HBO Max would have between 120 million and 150 million subscribers by 2025, including its advertising-based video on demand subscribers, which pay just $9.99 for the service (compared to $14.99 without ads). AT&T is in the process of merging WarnerMedia, which owns HBO Max, with Discovery Communications. That deal is expected to close as soon as April.

• 22 million direct-to-consumer subscribers (up 2 million)
• ARPU: About $7 last quarter. ($4.99 per month, including advertisements; $6.99 per month without ads)

Discovery added 2 million subscribers in the fourth quarter as it awaits closure of its merger with WarnerMedia. CEO David Zaslav suggested to CNBC in recent weeks the benefit of combining Discovery with WarnerMedia is to showcase the strength of both companies’ content. That implies he plans to either bundle Discovery+ with HBO Max for a discount or offer a new combined product of both streaming services when the deal closes.

AMC Networks launched a premium AMC+ subscription bundle in Canada and Australia on Apple TV channels and Amazon Prime Video Channels. Interim CEO Matt Blank reaffirmed the company would reach 20 million to 25 million streaming subscribers by the end of 2025. Blank said in a statement that “2022 will be the biggest year for original content in our history, including the highly-anticipated returns of ‘Better Call Saul’ and ‘Killing Eve.'”