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Paramount Global media company revealed it would be combining its Showtime TV network and Paramount Plus streaming service. Once merged, the new service will have a new name - Paramount+ with Showtime.
Paramount Global said earlier this week that it is planning to fully merge Showtime and Paramount Plus and then allow it to operate as a standalone streaming platform. The company said that it is taking this step as a response to the ongoing streaming wars.
As per CNBC, integrating the two is not the only thing that Paramount Global is eyeing to do. It has more things up on its sleeve. For instance, as part of the merge, Showtime TV channel will be featuring content from Paramount Plus which will create original series based on its popular franchises such as “Criminal Minds” and “Yellowstone.”
Under the new name for the combined brands, Paramount Plus members can subscribe to Showtime for a low extra fee on their TV bundle. The price rates for the integrated streaming platform are not yet available at this time but are expected to be announced in the coming weeks, along with the release of other details.
Currently, Paramount+ subscribers are paying fees starting at $4.99 per month, while Showtime’s streaming service starts at $10.99 a month. It was suggested that a bundle deal for the two services may start at $11.99 per month.
“This new combined offering demonstrates how we can leverage our entire collection of content to drive deeper connections with consumers and greater value for our distribution partners,” Bob Bakish, Paramount’s chief executive officer, said in a memo addressed to employees this week.
He added, “This change will also drive stronger alignment across our domestic and international Paramount+ offerings, as international Paramount+ already includes Showtime content. And, very importantly, this integration will unlock operational efficiencies and financial benefits across our broader portfolio.”
Finally, Reuters reported that the Showtime streaming service would no longer be available later this year. In its place, the combined service with Paramount Plus will be offered to customers.
