In the latest sign of companies seeking to streamline their brands in an increasingly streaming-centric world, Paramount Global has explored shutting down streaming service Showtime and integrating its content into flagship Paramount+ offering. from Paramount.
The the wall street journal first reported the news of the internal discussions on Tuesday and stressed that it was the start. A source within Paramount confirmed that talks had taken place, but stressed that they were part of a larger assessment of the cast going forward. Showtime’s traditional lucrative pay-TV business remains intact after decades as a tried-and-true part of the linear bundle. The question now is what form this will take years from now, as streaming ambitions continue to grow and the linear base shrinks. The dynamic is changing between pay-TV operators and programmers in the television landscape, particularly in the premium cable sector, with HBO, Starz and Epix all having faced the same challenges faced by Paramount and Showtime.
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“We are always exploring options to maximize the value of our content investment by giving consumers access to great Paramount content through a range of services and platforms,” a company spokesperson told Deadline in a press release.
Although the numbers aren’t systematically broken down by Paramount’s overall total of 64 million streaming subscribers (two-thirds of which are Paramount+), Showtime OTT has grown more than 200% over the past three years, say people who know the numbers.
Showtime programming is already offered on Paramount+ in international markets. It’s set to enter select European markets this year as part of Sky Showtime, a joint venture with Comcast. Showtime’s over-the-top service launched in 2015, the same year as CBS All Access, the precursor to Paramount+.
Paramount+ and Showtime last month were combined into a single streaming app, the latest move to bring Paramount’s brands together on the Par+ platform, which had 43.3 million subscribers as of June 30. The combo came with an offer for new subscribers to sign up. for Paramount+ with Showtime for $7.99 per month for the basic ad-supported service and $12.99 for the ad-free version. Current subscribers can upgrade to the plan in their app. Showtime and Paramount+ are still offered as standalone services outside of the bundle. Showtime’s standalone service costs $10.99 per month.
The latest move comes as Warner Bros. Discovery strives to bring HBO Max and Discovery+ together in one app, and after Disney’s three-part bundle of Disney+, ESPN+ and Hulu has enjoyed success since its introduction in 2020. Yet despite the latter, Hulu is widely expected to migrate to Disney+ once Disney takes full control of Hulu in 2024.
Showtime’s Current Deals Include Escape Yellow vests, billions, the man who fell to earth and city on a hill among other drama series, as well as sports, documentaries, Vice and late night show Ziwe.
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