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Paramount Global has announced the consolidation of its two streaming services: Paramount+ Premium and SHOWTIME. The move comes amid fierce competition in the streaming market, with a wave of consolidation happening across the media industry. The combined offering will be known as “Paramount+ with SHOWTIME,” and SHOWTIME’s linear TV network in the US will be rebranded with the same name.
In a memo to staff, Paramount Global CEO Bob Bakish said that the integration of SHOWTIME’s content into Paramount+ Premium and the inclusion of select Paramount+ original programs on the cable network would make Paramount+ the definitive multiplatform brand in the streaming space. The move will also drive stronger alignment across domestic and international Paramount+ offerings, as international Paramount+ already includes SHOWTIME content.
Paramount Global’s decision to consolidate its streaming services into one makes sense from a business perspective. With a wave of consolidation happening across the media industry, including in the streaming space, the move will help Paramount cut costs and funnel extra resources into its more successful properties. Moreover, it will enable Paramount to put more resources into building out the lanes that have made the SHOWTIME brand famous and turn its hit shows into global franchises.
While the move may disappoint those who are only interested in SHOWTIME’s content, the unification of the two streaming services will create a more compelling offering for subscribers. Paramount Global’s decision to integrate streaming and linear content in this way is a first for the streaming industry, and it could set a new trend for the future of streaming services.
The consolidation of Paramount+ Premium and SHOWTIME into “Paramount+ with SHOWTIME” is a strategic move by Paramount Global to streamline its operations and create a more compelling offering for subscribers. The move is in line with the ongoing consolidation trend in the media industry and could set a new trend for the future of streaming services.
