Paramount+ With Showtime
Paramount Global (PARA) announced that it will be merging Paramount+ with Showtime’s streaming service. The new service will use the highly-unique and original name: Paramount+ with Showtime.
Pricing for this new service will be officially released in the coming weeks. A baseline subscription to Paramount+ currently costs $4.99 per month, while Showtime costs $10.99. Additionally, a bundled option for the two already exists and costs $11.99. Those interested in the new service can expect the cost to fall somewhere in this range.
By bundling its services, Paramount is hoping to provide a more valuable service and attract more users.
State of Streaming
In the wake of continual losses across the board, the streaming industry recently transitioned to prioritizing profitability over user growth. With competition at an all-time high, streamers now need to go above and beyond to attract new users and start posting profits. To do this, many streamers are consolidating their services.
For example, Warner Bros (WBD) has plans to combine HBO Max and Discovery this spring, while Disney (DIS) has already bundled Disney+, Hulu, and ESPN+. On the other hand, Netflix (NFLX) has added a new ad-supported tier to attract new users.
In this race, Paramount+ has some catching up to do. The service had 46 million subscribers at last count — well behind Netflix’s 220 million and Disney+’s 164 million.
If you have yet to subscribe to either service, Paramount+ is well-known for titles such as Avatar: The Last Airbender, Star Trek, and CBS’s slate of reality shows. Meanwhile, Showtime offers buzzy hits like Billions, Dexter, and Yellowjackets.
For current subscribers, this merger will mean all your favorite shows in one place, and maybe even some new ones. If the new service picks up steam, it will give Paramount an incentive to fund original content.
There is no word yet on if existing users will be grandfathered into the newer service. But it’s a safe assumption – even as growth takes a backseat to profit, Paramount likely wants to keep the users it has. So, it’s worth continuing to follow news of the merger, particularly regarding the pricing, in case the announcement comes in the form of an increased bill each month.
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