- Paramount Global 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 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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