Tom Ryan, CEO and President of Paramount Streaming, speaks during the LG press conference ahead of the Consumer Electronics Show (CES) in Las Vegas, Nevada on January 4, 2023.
Patrick T. Fallon | AFP | Getty Images
World ParamountParamount+’s flagship streaming service will be combined with its Showtime app in the US on June 27, the company announced on Monday.
With the newly merged streamer, prices will increase, as Paramount announced earlier this year. The premium tier Paramount+ with Showtime will increase from $9.99 to $11.99, while the Paramount+ option without Showtime content will increase from $1 to $5.99.
The integration goes beyond Paramount’s streaming options. The premium cable network, known for series like “Yellowjackets” and “Billions,” will also be rebranded as Paramount+ along with Showtime, and the company will also be ending the standalone Showtime app by the end of the year. .
Once integrated, the Showtime TV network will also feature content from Paramount+, which has produced original series from popular franchises such as “Yellowstone” and “Criminal Minds.” Showtime is an additional subscription on the pay TV package.
Paramount said it expects maximum losses for its brand new Paramount+ streaming service this year.
The combined platforms will also help reduce content spend, which has recently been a priority for media companies as they seek to monetize streaming.
Discovery of Warner Bros. has cut costs since completing its merger. The company is also launching Max Tuesday, the combination of HBO Max and Discovery+. However, Discovery+ will also remain a standalone service.
disney announced this year that it would cut costs by $5.5 billion, including $3 billion on declared content. Last week, CEO Bob Iger said Disney would add Hulu content to its Disney+ platform, a move toward a single app experience for consumers and to streamline advertisers’ businesses. The company will also focus on adding more ad-supported customers and plans to increase its ad-free streaming prices later this year.