Paramount Global Inc. has announced on Monday that it is planning on merging Paramount+ and Showtime.
Paramount+ is currently Paramount’s streaming service and Showtime is its premium cable channel. The integration is set to take effect later this year. What this means is that Showtime subscribers on cable will be able to watch Paramount+ content and Paramount+ subscribers will get access to the cable network’s titles like Yellowjackets.
If you are subscribed to the lower-priced ad-supported tier of Paramount+, however, you will not be able to stream Showtime content.
Paramount Global Inc. wants to make Paramount+ more competitive in the face of rival streaming services like Netflix, Disney+, HBO Max, and more. It is also hoping to become more comparable to rival HBO Max, which will merge with Discovery+ later this year.
The streaming service will be rebranded to Paramount+ with Showtime once the change takes into effect. The integration had been rumored and the Wall Street Journal reported last week that the integration was imminent.
As of right now, pricing and additional details are not available, but will be released in the next few weeks. Showtime is currently available to Paramount+ subscribers as an add-on.
Paramount CEO Bob Bakish told employees in a memo on Monday that “Paramount+ will become the definitive multiplatform brand in the streaming space.” He also added that the merger will “unlock operational efficiencies and financial benefits.”
Shows are already being canceled, however. Showtime canceled two drama series already: Let the Right One In and American Gigolo. The upcoming drama series, Three Women starring Shailene Woodely, will not be airing on Showtime and will be given to another network instead.
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