Showtime, the popular streaming service, has officially become a part of Paramount+, marking a significant step in the expansion of Paramount Global’s streaming offerings. The move was announced in May and aims to integrate Showtime’s content, including shows like “Yellowjackets” and “Billions,” as well as live boxing events, into the Paramount+ platform. Paramount+ already had 60 million streaming subscribers worldwide as of March, and this integration is expected to further boost its streaming scale.
The decision to fully integrate Showtime into Paramount+ was driven by consumer insights and data. Showtime and Paramount+ were previously available as a bundled offering, and the company found that customers who used this bundle watched 40% more titles than standalone Paramount+ subscribers. Additionally, they spent about 20% more time on Paramount+. By combining the content from both services, Paramount+ aims to enhance the overall viewing experience and provide a comprehensive streaming destination for households.
Tom Ryan, the President & CEO of Paramount Streaming, expressed his excitement about the merger, stating that it consolidates Paramount+ as the ultimate total household destination in streaming. He believes that the combination of Paramount+ and Showtime will showcase the breadth and depth of their content offerings, positioning them as a formidable competitor in the streaming market. Furthermore, Ryan mentioned that the value of the Paramount+ with Showtime plan will outshine other streaming options in terms of quality and affordability.
While Paramount+ has become the exclusive streaming home for Showtime, the linear TV channel will remain available for the time being. However, the company plans to rebrand the Showtime linear channel by the end of the year, incorporating some of the streaming content that was previously exclusive to Paramount+. Additionally, Paramount will work with its pay-TV partners to ensure that linear subscribers have access to the streaming product after the rebranding.
Related Post
The decision to merge Showtime and Paramount+ was initially announced in January, with Paramount emphasizing the complementary nature of Showtime’s edgy and mature content to the broad and general market offerings of Paramount+. However, along with the merger came some cost-cutting measures, resulting in about 120 layoffs among Showtime staff. Moreover, the Showtime studio and MTV Entertainment Studios teams were folded into one studio group, aligning with the company’s ongoing efforts to streamline operations and reduce expenses.
In conclusion, the integration of Showtime into Paramount+ signifies Paramount Global’s commitment to expanding its streaming presence. By combining the strengths and content libraries of both services, Paramount+ aims to offer a comprehensive streaming experience to its subscribers. With its growing subscriber base and a diverse range of content offerings, Paramount+ with Showtime is poised to become a strong contender in the competitive streaming market.
