ViacomCBS is seeking streaming supremacy by leveraging both Paramount’s content and the historic Paramount brand. The company says they are rebranding CBS All Access as Paramount+ as a result of the merger of CBS and Viacom last year. The new supersized premium streaming service will include all of the original CBS content plus the huge catalog of movies and TV shows previously owned by Paramount.
Paramount+ will also include popular new hits such as Yellowstone, Lioness, and The Offer. New pricing has not been announced but it is likely to be significantly higher than the $5.99 a month with ads or $9.99 a month without ads that CBS All Access costs.
“Paramount is an iconic and storied brand beloved by consumers all over the world, and it is synonymous with quality, integrity and world-class storytelling,” said Bob Bakish, President and CEO, ViacomCBS. “With Paramount+, we’re excited to establish one global streaming brand in the broad-pay segment that will draw on the sheer breadth and depth of the ViacomCBS portfolio to offer an extraordinary collection of content for everyone to enjoy.”
The company says that since the transformation of CBS All Access began in late July, the service has experienced significant growth. With the addition of content from Paramount such as UEFA, Big Brother, Star Trek: Lower Decks, and the more than 3,500 episodes from across ViacomCBS’ brands, the service broke a new record for total monthly streams in August. It experienced one of its best months ever in terms of new subscriber sign-ups. In addition, the average age of new subscribers in August was measurably younger than the service’s overall average subscriber age, due in large part to the addition of UEFA and the newly added content from various ViacomCBS brands.
Leading up to the early 2021 rebrand to Paramount+, CBS All Access will expand its content offering to more than 30,000 episodes and movies and continue to develop additional original series across brands including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and more. The company is positioning Paramount+ as a major competitor in the streaming world and intends to compete effectively for subscribers with Netflix, Amazon, Disney+, and all of the other services.
“The response from consumers in just the early weeks of the service’s expansion already illustrates the tremendous opportunity ahead of us in bringing these phenomenal ViacomCBS brands together in one premium streaming home under the new Paramount+ name,” said Marc DeBevoise, Chief Digital Officer, ViacomCBS and President & Chief Executive Officer, ViacomCBS Digital. “With the addition of even more content from across the portfolio as well as the new exclusive originals we are announcing today, we look forward to the early 2021 rebrand and bringing existing and new subscribers more of the compelling, genre-spanning live sports, breaking news and mountain of entertainment ViacomCBS has to offer.”