Paramount Plus and Showtime merge in the US

In the US, due to increasing competition, digital broadcasting platform Paramount Plus and cable television channel Showtime decided to merge. “With this merger, we aim to create deeper connections with consumers and, most importantly, unlock operational efficiencies and financial benefits across our portfolio,” said Paramount CEO Bob Bakish. Paramount Plus, the American digital video-on-demand streaming platform owned by Paramount Global, and Showtime, the American cable television channel, have decided to merge. In today’s streaming world, where even Netflix is opening up commercials to grow its business, consolidation has become inevitable. Paramount Plus has over 30,000 movies, series, and documentaries on its platform. Showtime is a cable channel owned by Showtime Networks, Inc., a division of CBS Corporation. The company announced that the integration will include both streaming and linear platforms, meaning Paramount Plus will now be renamed “Paramount+ with Showtime.” It was announced that the Showtime linear TV network will also be named the same in the US. Paramount itself has approximately 67 million global subscribers across Paramount+, Pluto TV, Showtime, Noggin, and BET+. By merging with Showtime, Paramount Plus will compete directly with Warner Bros. Discovery, which has 95 million global subscribers. The changes will be available to subscribers later this year, the company said. “This merger demonstrates how we can leverage our entire collection of content to connect deeper with consumers and deliver greater value for our distribution partners. And most importantly, this integration will unlock operational efficiencies and financial benefits across our broader portfolio,” Paramount CEO Bob Bakish said in a memo to employees announcing the news.