Just a day ahead of Warner Bros. Discovery’s Max launch, Paramount gave a date for its own merged streaming service’s debut.
Topline
The new Paramount+ with Showtime plan is coming to the U.S. on June 27 and will combine all of Paramount+’s existing content with Showtime’s premium series.
Between the lines
The premium plan will cost $11.99 per month, a $2 boost to the existing premium Paramount+ tier. The essential tier will also see a price hike, jumping up $1 per month to $5.99. That plan will not include Showtime content.
The new pricing will also go into effect June 27 on Paramount’s platforms and could vary slightly on partner channels.
“This summer, Paramount+ will officially become the streaming home for Showtime, further advancing our lead in being the total household service,” said Tom Ryan, president and CEO of Paramount streaming, in a statement. “By integrating the Showtime premium and critically acclaimed portfolio with the service’s already broad and popular slate, all at a competitive price, we will solidify Paramount+ as a cornerstone in streaming.”
Paramount plans to sunset the Showtime app by the end of the year, as well as rebrand the linear channel.
It’s the latest consolidation in the streaming space, with Warner Bros. Discovery opting to merge Discovery+ with HBO Max tomorrow. Unlike Showtime, however, Discovery+ will remain a standalone app.
Bottom line
The announcement comes right after upfront week wrapped. However, Paramount opted to skip its decades-long tradition of presenting at Carnegie Hall, instead choosing to host a series of client dinners in lieu of a larger event.
So far, the company says the strategy is paying off.
“We’re in a new format that strongly resonated with our clients in the room,” CEO Bob Bakish told investors earlier this month. “That contrasts with the old model of one big presentation event and then a huge party after—not really effective anymore.”
