Both Showtime’s linear channel and Paramount+’s premium version will be changing names, as CEO Bob Bakish acknowledges staff “uncertainty” and the company looks to focus on potential “franchising” shows.
Paramount is making a major shift in its streaming and linear businesses, merging Paramount+ and Showtime in both areas.
Regarding the changes, the executives warned of potential layoffs and schedule changes in the coming weeks.
Paramount CEO Bob Bakish announced the move in a note to employees Monday afternoon, confirming rumors that have been brewing for some time.
For starters, both Showtime’s linear pay-TV and premium tier of Paramount+ will change their name to Paramount+With Showtime, with Chris McCarthy running the Showtime studio and linear channel and Tom Ryan overseeing the broadcast business.
Bakish added that changes too.Unlock operational efficiencies and financial benefits” For the sake of the company.
“While we are confident this is the right move for our company, our consumers and our partners, we know this change creates uncertainty for the teams working on these brands and businesses.”Bakish wrote. “We are committed to being as transparent and thoughtful as possible throughout this process, and we look forward to sharing additional details in the coming weeks.”.
In other words, there will be outages associated with the merger, with details yet to be determined.
Other changes, such as pricing and the plan to merge accounts for individuals with Showtime and Paramount+, are also coming in the coming weeks.
Another area that will see noticeable changes is programming.
In a note of his own, McCarthy called “complementary” audiences to Showtime and Paramount+, while adding that the company plans to rely on programming closely associated with Brand Strengths and Content Filters From Showtime, call series like Yellow jacketsAnd BillionsAnd dexter s Chi.
“To do this, we will divert investment from underperforming areas that account for less than 10% of our views.”McCarthy Books. “We’ve already begun discussions with our production partners about what content makes sense moving forward and what shows are franchised.”.
Therefore, Showtime series that are not critical to those strengths may be removed. On Monday, the channel revealed the first three series that faced the company’s kindness, with drama Let the right one s American Gigolo Cancellation and conditioning Three women Starring Shailene Woodley will not continue to use the premium cable network. The latest series, whose production has already been completed, are sold to other channels or platforms.
The change in business strategy comes as Paramount looks to establish a stronger hand in streaming as it tries to compete with Netflix, Disney and Warner Bros. Discovery.
WBD, for example, has combined linear HBO with its broader broadcast offerings, and will bring Discovery programming later this year. Showtime, with its premium sensibilities, will likely play a similar role at Paramount+.
Last year, Paramount added Showtime to Paramount+ in a reduced bundle offering, while keeping the linear app and Showtime channel separate. The new structure perfectly integrates the two.
participation in Mundoplus.tv newsletter And receive in your email, from Monday to Sunday and first thing in the morning, all the news published on the web, the news from our blog, and you will have direct access to the film, series and sports calendars, always updated.
“Reader. Beer practitioner. Web expert. Subtly charming travel geek. Friendly music specialist.”