The ever-expanding empire of Paramount+ is setting its sights on growth in the Asia-Pacific region. And how are they planning to do it, you ask? Well, according to the Executive VP and International General Manager Marco Nobili, they’re going to be striking non-traditional deals and getting in bed with some pretty unexpected partners.
One such partner is Formula 1. That’s right, Paramount+ has teamed up with the adrenaline-fueled world of Formula 1 to promote their shows in the Asia-Pacific region. So, if you’re watching a race and see an ad for Paramount+ show like Special Ops: Lioness, don’t be surprised. They’re just bringing the entertainment to the people who are already there to be entertained. Clever, right?
But that’s not all. In Australia and New Zealand, they’ve teamed up with Qantas, the national carrier, to bring more eyeballs to their content. And they’re not just banking on their international hits. They’re also cooking up some local originals like NCIS: Sydney, The Amazing Race Australia, and an upcoming season of Top Gear: Australia. It seems the Aussies have a taste for premium content, and Paramount+ is more than happy to serve it up. After all, as Beverley McGarvey, Executive VP and Chief Content Officer of Paramount ANZ, puts it, “Australian customers have what we call ‘champagne taste.’ They like premium content and for it to look premium and high-budget.”
Looking ahead to 2024, Nobili is feeling pretty confident about Paramount+’s growth. In fact, he’s keeping a close eye on the top-line revenue because, as he says, “revenue really gives you an idea of subscription growth and at the same time, revenue per user.” And they’re not just sitting back and waiting for the money to roll in. They’ve launched a premium tier in some markets, like Australia, Brazil, Canada, and Mexico, to bring in even more revenue per user. It’s all about thinking smart and making that cash, folks.
But Nobili also recognizes that each market is different, especially in the highly-fragmented Asia-Pacific region. Some markets are all about the subscription volume, while others are more focused on paying a higher amount for content. It’s a balancing act, and Paramount+ is ready to dance.
So, whether they’re revving up with Formula 1 or cruising with Qantas, Paramount+ is ready to take the Asia-Pacific region by storm. And who knows what other wacky partnerships they’ll come up with next? One thing’s for sure, they’re not afraid to think outside the box and drive their business forward. Watch out, Asia-Pacific, Paramount+ is coming for you!
