This change will also drive stronger alignment across our domestic and international Paramount+ offerings, as international Paramount+ already includes Showtime content. 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. Now, with SHOWTIME’s content integrated into our flagship streaming service, and select Paramount+ originals joining the linear offering, Paramount+ will become the definitive multiplatform brand in the streaming space - and the first of its kind to integrate streaming and linear content in this way. Its name will always stand for critically acclaimed, groundbreaking entertainment and creative excellence. SHOWTIME has captivated audiences for decades with ambitious original series that defined premium content and fandom. To reflect this change, both our premium streaming tier on Paramount+ and the SHOWTIME linear network will become “Paramount+ with SHOWTIME” in the U.S. Today, we’re announcing that we will be fully integrating SHOWTIME into Paramount+ across both streaming and linear platforms later this year - providing even more popular franchises and hit originals for viewers to enjoy. In that same spirit, I’m thrilled to share the next step in our company’s evolution. Since then, I have been tremendously proud of the many ways we have worked together across platforms, brands, and continents to consistently deliver as global leaders in the future of entertainment. Jeremy Renner in “Mayor of Kingstown” Emerson Miller / ViacomCBSĪlmost one year ago, we announced that ViacomCBS would become Paramount - harnessing the power of our combined portfolio to become one, integrated company. In after-hours trading, shares of Paramount Global (PARA) are down a few dimes.Ĭheck out Bakish’s memo to staff, in its entirety, below. Wall Street was unmoved by Monday’s news. We’ll get a subscriber update through the end of 2022 on February 16, when Paramount Global reports fourth-quarter earnings. The company no longer breaks out Showtime and Showtime OTT (the standalone streaming app) subs. Of those, 46 million came from core streaming service Paramount+. Last September, Paramount Global said it had “nearly” 67 million global direct-to-consumer subscribers. “We are committed to being as transparent and thoughtful as possible throughout this process, and we expect to share additional details in the coming weeks.”īakish will host a town hall in Los Angeles to field employee questions February 23.Īlongside this news, Showtime canned two shows, “American Gigolo” and “Let the Right One In,” and canceled completed series “Three Women” starring Shailene Woodley it’s now being shopped to other homes. “We know this change brings uncertainty for the teams working on these brands and businesses,” Bakish wrote. It’s the “operational efficiencies” that scared some of the very employees Bakish emailed this afternoon, since that phrase often means staff layoffs. And, very importantly, this integration will unlock operational efficiencies and financial benefits across our broader portfolio.” “Billions” Laurence Cendrowicz/ShowtimeĬost-cutting is all the rage these days, so synergies would be very much appreciated. “This change will also drive stronger alignment across our domestic and international Paramount+ offerings, as international Paramount+ already includes Showtime content. “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,” he wrote. Paramount Global CEO Bob Bakish described this merger of platforms in a note sent to staff and obtained by IndieWire as “the first of its kind to integrate streaming and linear content in this way.” The two previously joined forces via a Showtime tile inside Paramount+. It could also be the next-to-last step toward fully folding Showtime into Paramount+, which would mean the end of the linear channel altogether. The combination of the brands means certain Paramount+ originals will air on Showtime’s linear channel. ‘Billions’ Creators Break Down Dual Forces Driving the Series Finale: ‘Their Souls Are in Peril’
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