By uniting its Showtime TV network and streaming service, Paramount+, Paramount Global is further integrating its streaming and cable TV businesses.
On Monday, the firm announced its intention to completely incorporate Showtime’s streaming service into Paramount+, its flagship standalone streaming platform, and its reaction to the streaming wars.
But the union goes further than that. The premium cable TV network, known for programs like “Yellowjackets,” “Billions,” and “Dexter,” will be rebranded as Paramount+ with Showtime as part of this combination. The television network will also air programming from Paramount+, a production company that created original shows that were spinoffs of the well-known “Yellowstone” and “Criminal Minds” franchises. People can add Showtime to their pay-TV package for a small additional price.
A Paramount representative said on Monday that pricing for the merged streaming platform and other information would be disclosed in the coming weeks. Showtime’s streaming subscription costs $10.99 per month, while Paramount+’s pricing starts at $4.99. The price of the two combined services begins at $11.99 per month.
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46 million people subscribed to Paramount+, according to a November report from Paramount. The business released its fourth-quarter earnings on February 16.
The decision was made as media corporations were trying to turn their streaming services into viable ventures. Following a pandemic-driven streaming boom, competition is at an all-time high, reducing subscriber growth. These companies have been attempting to expand their streaming services as a result of the declining stock values.
A less expensive, ad-supported tier of Netflix was released last year. Disney launched an ad-supported option the previous year and raised rates, even though it was the first to bundle Disney+, Hulu, and ESPN+. To reduce expenses, Warner Bros. Discovery has been reducing the amount of material for HBO Max. In addition, the company expects to launch a combined HBO Max and Discovery streaming app in the spring.
ON MONDAY, Paramount CEO Bob Bakish wrote to staff members, “This new integrated offering highlights how we can harness our complete library of content to build deeper connections with customers and more value for our distribution partners.”
Paramount reorganized its Showtime division in the fall. Following the departure of executive David Nevins, who had been in charge of the network since 2016, Chris McCarthy and Tom Ryan assumed control. McCarthy oversees the cable TV channels owned by Paramount, including MTV and Comedy Central. Ryan manages the Paramount streaming division.
Bakish noted that the combination “brings uncertainty to the teams” who work on each brand, even though McCarthy and Ryan will continue in their positions.