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Paramount+ and Showtime to integrate content, rebrand later this year

Media giant Paramount Global Inc. on Monday announced it plans to merge its Paramount+ streaming service with its premium cable channel, Showtime.

The integration, set to take effect later this year, essentially means Showtime subscribers on cable will get to watch Paramount+ content, such as “1923” and “Star Trek: Picard,” and streaming subscribers to the premium tier of Paramount+ will get access to Showtime titles, such as “Yellowjackets” and “Billions.” Subscribers of the lower-priced, ad-supported tier of Paramount+ will apparently not be able to stream Showtime content.

The move is intended to make Paramount+ more competitive in an increasingly crowded streaming environment, and make it more comparable to rival Warner Bros. Discovery Inc.’s
WBD,
-3.55%

HBO Max, which streams HBO content as well as originals, and will merge with Discovery+ later this year.

The cable channel and the premium streaming tier will both officially be rebranded as “Paramount+ with Showtime.” The changes had been long rumored, and the Wall Street Journal reported last week they were imminent.

Pricing and additional details will be released in the coming weeks. Currently, Showtime is available to Paramount+ subscribers as an add-on.

“Paramount+ will become the definitive multiplatform brand in the streaming space,” Paramount Chief Executive Bob Bakish told employees in a memo Monday, adding that the integration will “unlock operational efficiencies and financial benefits.”

That likely will result in layoffs and cancellations. The first cuts came Monday, as Showtime cancelled two drama series, “Let the Right One In” and “American Gigolo,” and said it would not air the upcoming drama series “Three Women,” starring Shailene Woodley, which will reportedly be shopped to other networks.

Class B shares
PARA,
-1.99%

of Paramount Global are down 32% over the past 12 months, but have rallied 34% year to date, compared to the S&P 500’s
SPX,
-1.30%

11% decline over the past year and 5% gain this year.


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Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

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