share_log

Paramount Eyes Bundling Popular Paramount+ Content With Showtime Streaming For Cost Efficiencies

Benzinga Real-time News ·  Jan 25, 2023 07:04
  • Paramount Global (NASDAQ:PARA) reportedly weighs rebranding its Showtime cable channel "Paramount+ With Showtime" and stocking the network with content from its Paramount+ streaming service in the U.S.
  • Paramount eyes combining the Paramount+ and Showtime streaming services into a single platform to cut costs and bolster its Paramount+ streaming service, the Wall Street Journal reports.
  • Paramount expects the move to incentivize the cable and satellite providers that carry the Showtime channel to agree to Paramount's plan.
  • Also Read: Netflix Eyes Sports Leagues, Streaming Rights Bids To Expanding Streaming, Boost Revenue
  • Like many other large media companies, Paramount harbored streaming aspirations, with Paramount+ at the center of its efforts without estranging longtime pay-TV partners.
  • Cable and satellite TV subscribers who have Showtime can watch certain Paramount+ shows and movies with free access to the Paramount+ streaming service.
  • Paramount had also explored shutting down the minor Showtime streaming service and moving its content to Paramount+.
  • When Warner Bros. Discovery, Inc (NASDAQ:WBD) launched its HBO Max streaming service, it made it available for free to subscribers of the HBO TV channel to pacify its cable and satellite operators.
  • In some international markets, Showtime content already appears on Paramount+.
  • Paramount+ added 4.6 million subscribers globally in the quarter that ended September 30.
  • Price Action: PARA shares traded lower by 0.48% at $20.73 premarket on the last check Wednesday.
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment