Tom Ryan, CEO and President of Paramount Streaming, speaks at LG’s press conference ahead of the Consumer Electronics Show (CES) in Las Vegas, Nevada, on Jan. 4, 2023.
Patrick T Fallon | AFP | Getty Images
Paramount GlobalParamount+, the flagship of streaming service Paramount+, will be combined with its Showtime app in the US on June 27, the company said Monday.
With the newly merged streamer comes a price increase, as Paramount announced earlier this year. The Paramount+ with Showtime premium tier increases from $9.99 to $11.99, while the Paramount+ option without Showtime content increases from $1 to $5.99.
The integration extends beyond Paramount’s streaming options. The premium cable TV network, known for series like “Yellowjackets” and “Billions,” will also be rebranded as Paramount+ with Showtime, and the company will also discontinue 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 spawned from popular franchises like “Yellowstone” and “Criminal Minds.” Showtime is an additional subscription fee to the pay TV bundle.
Paramount has said it expects peak losses this year for its fledgling streaming service Paramount+.
The combined platforms will also help reduce spending on content, which has been a recent focus for media companies looking to make streaming profitable.
Warner Bros. Discovery has reduced its costs since the merger. On Tuesday, the company will also launch Max, the combination of HBO Max and Discovery +. However, Discovery+ will also continue to exist as an independent service.
disney announced this year that it would save $5.5 billion in costs, including $3 billion in said content. Last week, CEO Bob Iger said Disney would add Hulu content to its Disney+ platform, a step toward a one-app experience for consumers and streamlining things for advertisers. The company will also focus on adding more ad-supported customers and plans to increase ad-free streaming prices later this year.