Paramount Global has a marketing problem not dissimilar to Warner Bros. Discovery: Both media giants have separate branded subscription streaming platforms (HBO Max and Discovery+, and Paramount+ and Showtime Anytime, respectively) that need to be combined.
Now Paramount is reportedly considering melding the $10.99 subscription streaming platform Showtime Anytime with Paramount+ ($9.99 without ads) in an effort to simplify subscription streaming consumer offerings in a market saturated with competing services, including industry pioneers Netflix, Prime Video and Hulu.
Showtime’s high-profile series include “Billions,” “Yellowjackets,” “City on a Hill” and “The Chi,” among others. The streaming service launched in 2014 and currently offers access to select programming on Paramount+ in Europe.
“We are always exploring options to maximize the value of our content investment by giving consumers access to great Paramount content through an array of services and platforms,” a spokesman told The Wall Street Journal, which first reported the possible move, citing sources familiar with the situation.
Paramount+ subscribers grew to more than 43 million in the most-recent fiscal quarter, which reflected the addition of 4.9 million subscribers and the removal of 1.2 million Russia subscribers — the latter due to the Ukraine war.
Global subscribers, which include Showtime Anytime and Noggin, among others, reached 64 million and reflect the addition of 5.2 million subscribers and the removal of 3.9 million Russia subs.
Paramount recently began bundling Paramount+ and Showtime for $7.99 monthly with advertising, $12.99 without ads. The promotion is slated to end on Oct. 2.