Paramount Global is in early discussions to phase out Showtime’s streaming service, according to a report in wall street journal which cites unidentified sources familiar with the matter.
According to the report, if the deal goes ahead, the content on the platform – hit series “Yellowjacket” and “Billions” – will be moved to Paramount+.
The news follows an announcement two weeks ago that Paramount+ will be offering US customers a special, limited-time ad-supported Essential plan priced at $7.99 per month and $12.99 per month for the ad-free Premium plan through October. A Showtime bundle from .2, after which the prices will increase. In August, it was also revealed that Walmart+ customers would be able to access Paramount+ in September, in an effort to compete with the retailer’s flagship Amazon Prime Video.
Representatives for Showtime and Paramount+ did not immediately respond to requests for comment.
The idea also comes after massive industry efforts on the part of other companies to attract consumers amid the fast-growing streaming environment. Earlier last month, the recently merged Warner Bros. Discovery announced that it would launch a combined HBO Max-Discovery+ platform in Summer 2023 to fold all of its content into one platform.
As the Journal reports, sources said Paramount “pushed the idea” of ending Showtime’s platform “in talks with at least one major pay-TV partner.”
Showtime’s popular shows also include “The Chi” and “Dexter: New Blood.” The network premiered “American Gigolo” with Jon Bernthal, and will feature the return of “Your Honor” and “The L Word: Generation Q” in the fall. Paramount+ includes Taylor Sheridan’s “1883” and “Star Trek: Discovery”. Fall premieres are “Tulsa King,” “Criminal Minds,” “Wolf Pack,” “1923,” as well as the returning series “The Good Fight” and “Seal Team.”
In announcing second-quarter earnings for 2022, Paramount said it added 4.9 million subscribers to Paramount+, bringing the total number of paid subscribers to 43 million. The 4.9 million additions included the removal of 1.2 million Russia-based customers.
