Is scale the secret to streaming success? For Paramount+, it seems the answer is, ‘yes’. Despite offering some strong programming, Paramount+ has been struggling to gain the market traction of its larger competitors. Plus the continued questions around their Showtime offering have been distracting, to say the least. Now we know exactly what Paramount intends for Showtime- a full merger with Paramount+. Entertainment attorney Brandon Blake, with Blake & Wang P.A, brings the news.
Removing the Bundle Option
As of last week, Showtime is now folded fully into the Paramount+ offering. This includes some compelling series (think Billionsand Yellowwjackets, both of which have been solid performers) alongside their live sports programming. Until now, the 2 services have been offered in a bundle. For now, the linear Showtime channel will remain as-is, although it is set to be rebranded with further Paramount+ programming at a later stage.
The released data for the move seems strong. Apparently those with the bundle option interact about 20% longer with Paramount+, and watch 40% more titles, than those with the standalone Paramount+ option. For now, no price changes have been introduced.
Expanding Options
This echoes some rhetoric we’ve seen from Disney this year, emphasizing the need for a streaming service to offer a broader wealth of programming options if it is to remain competitive. Showtime has something of a reputation for edgier and more mature programming that could do well to boost Paramount+’s own offerings. Let’s not ignore the cost cutting measures that come with the merger, too- a new Wall Street mantra of sorts for streamers as they sort the wheat from the chaff post the pandemic boom.
How will the move fare for Paramount’s steaming endeavors? If the data they’ve given us rings true, this could be the right move for the platform to upsize its streaming presence.
