Paramount Global has announced that its flagship streaming service, Paramount+, will merge with its Showtime app in the US on June 27th. This move will lead to an increase in pricing, as previously announced by Paramount earlier this year. The premium tier of the merged streamer, which will include Showtime content, will increase from $9.99 to $11.99, while the option without Showtime content will increase by $1 to $5.99.
Rebranding and Sunset of Showtime App
As a part of the integration, the premium cable-TV network Showtime, known for its popular series including “Yellowjackets” and “Billions,” will be rebranded as Paramount+ with Showtime. The standalone Showtime app will be sunset by the end of the year.
Content Integration and Cost-cutting Measures
Once integrated, Showtime TV network will also feature content from Paramount+. Paramount+ has produced original series that spun off from popular franchises like “Yellowstone” and “Criminal Minds.” Showtime is an extra subscription fee on the pay-TV bundle. The combined platforms will also help cut down on content spending, which has been a recent focus for media companies as they look to make streaming profitable.
Industry Trends
Other media companies, including Warner Bros. Discovery and Disney, have also been cutting costs lately. Warner Bros. Discovery has been cutting costs since completing its merger and is launching Max, a combination of HBO Max and Discovery+. However, Discovery+ will also remain as a standalone service. Disney announced that it would cut $5.5 billion in costs this year, including $3 billion on content. Last week, CEO Bob Iger said that Disney would add Hulu content to its Disney+ platform, a move towards a one-app experience for consumers and to streamline business for advertisers. The company will also focus on adding more ad-supported customers and plans to increase its ad-free streaming prices later this year.
In summary, Paramount Global’s flagship streaming service, Paramount+, is merging with its Showtime app in the US on June 27th. The merged streamer will see an increase in pricing, with the premium tier increasing from $9.99 to $11.99. Showtime will be rebranded as Paramount+ with Showtime, and the standalone Showtime app will be sunset by the end of the year. The integration will also include content from Paramount+ on the Showtime network. Media companies are focusing on cutting costs and making streaming profitable, with Disney and Warner Bros. Discovery also implementing cost-cutting measures and streamlining their services.
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