Paramount Global has announced its Showtime brand is to be combined with Paramount+. US subscribers to both streaming and linear platforms will see the service rebrand as “Paramount+ With Showtime”.
From later this year the Showtime streaming service will be withdrawn.
“With Showtime’s content integrated into our flagship streaming service… Paramount+ will become the definitive multiplatform brand in the streaming space – and the first of its kind to integrate streaming and linear content in this way,” said Paramount Global boss Bob Bakish in a memo to staff released Monday.
Such integration is likely to lead to job losses as has been the case following the Warner Bros. Discovery reorganisation of HBO. It’s clear the major studios can’t make both their traditional premium pay channels and streaming services work separately.
“While we are confident this is the right move for our company, our consumers, and our partners, we know this change brings uncertainty for the teams working on these brands and businesses,” said Bakish.
“We are committed to being as transparent and thoughtful as possible throughout this process, and we expect to share additional details in the coming weeks.”
Showtime’s Chris McCarthy told staff the 47-year-old brand would “divert investment away from areas which are underperforming and that account for less than 10% of our views.” Soon afterwards Showtime cancelled Let the Right One In and American Gigolo.
Last November, Paramount reported that Paramount+ had 46 million customers.