Showtime to merge with Paramount+, rebranding with new name

Paramount Global It also joins the broadcast and cable TV business by combining Showtime TV network and streaming service, Paramount+.

The company said Monday that it plans to fully integrate its Showtime streaming service into Paramount+, its standalone streaming platform and response to the streaming wars.

But the union does not stop there. as part of This integration, the premium cable television network, known for shows like “Yellowjackets,” “Billions,” and “Dexter,” will be rebranded as Paramount+ with Showtime. The TV channel will also feature content from Paramount+, which has produced original series spin-offs of the popular “Yellowstone” and “Criminal Minds” franchises. People can subscribe to Showtime for an additional fee on their pay-TV package,

A Paramount spokesperson said Monday that pricing for the combined streaming platform and other details will be announced in the coming weeks. Paramount+ starts at $4.99 per month, and the Showtime streaming service is $10.99 per month. There’s already a bundled offer for both, starting at $11.99 per month.

In November, Paramount reported Paramount+ has 46 million customers. The company reports fourth-quarter earnings on February 16th.

The move comes as media companies work to make the live streaming business profitable. Competition is at an all-time high in the wake of a pandemic-fueled streaming boom, slowing the addition of subscribers. Stock prices sufferedPartly because of this, these companies have been experimenting with growing their live streaming business.

last year Netflix Offer a cheaper, ad-supported tier. While Disney It was early on in bundling its streaming options — Disney+, Hulu, and ESPN+ — and also debuted an ad-supported option and increased prices last year. Warner Bros. Discovery It is backing off its own HBO Max content, as it looks to cut costs, and also plans to launch a combined HBO Max and Discovery app in the spring.

“This new combined offering demonstrates how we can leverage our full suite of content to foster deeper connections with consumers and greater value for our distribution partners,” Paramount CEO Bob Bakish said in a note to employees Monday.

During the fall, Paramount restructured its Showtime business. Executive David Nevins, who had run the network since 2016, left, and Chris McCarthy and Tom Ryan took over. McCarthy also runs Paramount’s cable television networks such as MTV and Comedy Central. Ryan directs the broadcast segment at Paramount.

While McCarthy and Ryan will remain where they are, Bakish acknowledged that the integration “brings uncertainty to the teams” working on each brand.

CNBC channel Stephen Dessolniers Contribute to this report.