NEW YORK—The Paramount Global has announced a host of new initiatives that highlight how the newly rebranded company is hoping to take on larger streaming players like Netflix and Disney. These include plans to launch a Paramount+/Showtime bundle to consumers, a new slate of original content and an aggressive push into international markets that will include the launch of Paramount+ in France.
"We see a huge global opportunity in streaming, a much larger potential market than can be captured by linear TV and film alone," explained Bob Bakish, president and CEO of Paramount. "We're excited about our ability to not just compete, but thrive, creating significant value for both consumers and shareholders. How? Because we're broader in four key areas: our diverse content, streaming model, mix of platforms and global reach. As we look forward, the size of the opportunity we see is matched only by our ambition to seize it."
To attract new subs by offering lower-cost bundles, the company has announced plans to offer two different bundles of Paramount+ and Showtime starting in the summer of 2022 in the U.S.
Starting this summer, Paramount+ subscribers will be able to upgrade their subscription to a $11.99 bundle for the Paramount+ Essential tier and Showtime or a $14.99 bundle for the Paramount+ Premium tier and Showtime.
Both plans offer discounts to the cost of separately subscribing to the services, a strategy that Disney has used to great success with its bundled offering.
Showtime will also remain available as a standalone premium OTT subscription service and through various third-party streaming platforms.
As part of the ongoing global expansion of Paramount+ in 2022, the company also announced that Paramount+ will make its debut in France as an exclusive bundle with Canal+ Group, giving subscribers immediate access to Paramount+ through the country's largest provider. Paramount+ will also be available on an a la carte and direct-to-consumer basis in the French market.
With Paramount+ and SkyShowtime, the company will have streaming services available in more than 60 markets across the UK, Latin America, Canada, Australia, South Korea, the Caribbean and all major markets in Europe by the end of this year, the company said. In 2023, the company will look to Asia, Africa and the Middle East to build a presence around the globe.
