Paramount Global is further joining its streaming and cable TV business by combining its Showtime TV network and streaming service, Paramount+.
The company said Monday it plans to integrate Showtime’s streaming service fully into Paramount+, its marquee standalone streaming platform and response to the streaming wars.
But the union doesn’t stop there. As part of this integration, the premium cable TV 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 that spun off from the popular “Yellowstone” and “Criminal Minds” franchises. People can subscribe to Showtime for an extra fee on their pay-TV bundle.
Pricing for the combined streaming platform and other details will be announced in coming weeks, a Paramount spokesperson said Monday. Paramount+ starts at $4.99 a month, and Showtime’s streaming service is $10.99 a month. A bundled offering of the two already exists, beginning at $11.99 a month.
In November, Paramount reported that Paramount+ had 46 million customers. The company reports fourth quarter earnings Feb. 16.
The move comes as media companies work to make their streaming businesses profitable. Competition is at an all-time high following a pandemic-fueled streaming boom, slowing the addition of subscribers. Stock prices have suffered, in part, due to this, and these companies have been experimenting to grow their streaming businesses.