Image: Yellowstone, Paramount
Taylor Sheridan’s hit show "Yellowstone" presents an interesting case in the streaming industry. Despite being a Paramount Network original, it’s available exclusively on Peacock in the U.S., while all other shows from the Taylor Sheridan universe, including "Yellowstone" prequels "1883" and "1923", are on Paramount+.
This strategy—licensing one of its top shows to a competing streaming service—made sense when Paramount’s predecessors CBS Corporation and Viacom were less invested in their own streaming platform. However, years later, the decision seems less beneficial. More than six years and five seasons later, "Yellowstone" remains one of the most popular shows in the U.S., driving a significant share of viewers to Peacock.
Parrot Analytics' Audience Journeys tool helps measure "Yellowstone's" importance to Peacock by tracking cross-platform consumption affinity between titles. The data shows "Yellowstone" is a major driver of subscriber acquisition for Peacock, thanks to its broad appeal and strong affinity with shows on other platforms. Between January and August 2024, "Yellowstone" was the second-biggest contributor to Peacock’s subscriber growth, accounting for 3.71% of acquisitions during that period.
The only title to outperform "Yellowstone" in this regard was Christopher Nolan’s blockbuster "Oppenheimer," which contributed 4.96% of new subscribers when it was available on Peacock in 2024. This makes "Yellowstone" the top TV show for subscriber acquisition, surpassing well-known titles like "Saturday Night Live," "Brooklyn Nine-Nine," and the "Law and Order" franchise—some of Comcast’s most valuable IPs.
Audience Journeys also provides insight into where "Yellowstone's" audience is coming from. Around 18% of viewers also came via Max, the same percentage as Netflix, while 15% are drawn from Hulu. A relevant share, 8% came from Paramount+, which has a smaller catalog than other platforms mentioned. This reflects the high affinity between Sheridan’s shows.
These figures highlight how the right content can drive subscriber growth for a streaming platform, underlining the importance of understanding the audience journey between different shows and services.
