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SENSOR TOWER · ABRAHAM YOUSEF · FEBRUARY 2024
Paramount Bets Big on Super Bowl LVIII
Paramount+ experienced triple-digit WoW download growth the week of Super Bowl LVIII as it retained exclusive streaming rights to the game. The company aggressively increased US ad spend and launched commensurate social media campaigns, except on LinkedIn where spending was materially reduced during this period. Sensor Tower data suggests that LinkedIn users don't have an affinity for Paramount+ given that only 7% of LinkedIn users opened the Paramount+ app in the last 90 days, significantly lower than on other streaming apps.
Key Takeaways:
CBS secured exclusive TV broadcast and live streaming rights for Super Bowl LVIII via Paramount+. Per Sensor Tower data, Paramount+ downloads and WAUs the week of Feb 5, 2024 increased a whopping 141% and 18% WoW, respectively. This represented the largest WoW percentage increase in downloads ever recorded for Paramount+
Other streaming services, such as YouTube TV and Fubo, which utilize live TV, also had the game available via CBS. Per ST data, downloads of YouTube TV and Fubo increased 87% and 32% WoW, respectively, for the week of Feb 5, 2024, though this was off of smaller bases (<500,000 downloads in the previous two weeks) compared to Paramount+ (1.8mn)
Per Pathmatics by ST data, Paramount increased its US ad spend by 255% and 230% WoW on Facebook and Instagram, respectively, during the week of Super Bowl LVIII (week of Feb 5, 2024) as it publicized its exclusive streaming of the big game and launched commensurate social media campaigns tied into its ad that ran during the game
Paramount also ramped spend aggressively on Snapchat (+177% WoW), TikTok (+103% WoW), YouTube (+67% WoW), Mobile Display (+52% WoW), Desktop Video (+42% WoW), Desktop Display (+22% WoW), and OTT (+17% WoW) to further promote its streaming offerings. LinkedIn was the sole advertising channel where Paramount+ actually decreased spend during the week of Super Bowl LVIII, down -42% WoW
PM by ST data shows that Paramount dedicated minimal amounts of its total US ad spend (<1%) towards LinkedIn advertising, which may be driven by the audience on LinkedIn and their general (or lack thereof) interaction with streaming apps
LinkedIn mobile app users, on average, spent 18% less time on Paramount+ during the week of Super Bowl LVIII, indicating that users of LinkedIn don’t have a strong affinity for Paramount+. ST’s Audience Insights data reinforces this discovery as only 7% of LinkedIn users opened the Paramount+ app over the last 90 days in the US, far less than on competing streaming apps such as Netflix (40%), Prime Video (29%), Hulu (18%), Disney+ (15%), Max (11%), and Peacock (8%)
For more information, request the full report from reports@sensortower.com.
