Thursday, February 25, 2021

ViacomCBS Unveils 'Paramount+' To Investors

  • Paramount+ to feature massive content catalog of more than 30,000 episodes, 2,500 movie titles and over 1,000 live sporting events, plus around-the-clock news coverage
  • Select Paramount Pictures films to stream on Paramount+ following a short theatrical release, including A Quiet Place Part II, PAW PATROL: The Movie and Mission: Impossible 7
  • Over 50 original series to premiere on Paramount+ over next two years, including Halo, Frasier, Criminal Minds, iCarly, The Real World, Grease: Rise of the Pink Ladies, shows from the Avatar, Yellowstone, Star Trek and SpongeBob SquarePants universes and more
  • Paramount+ to feature depth of content across key genres, including 7,000 episodes of kids’ content, 5,000 episodes of reality and 6,000 episodes of comedy
  • Marquee sporting leagues and events on the service include the NFL, Masters, PGA TOUR, NCAA, SEC, The PGA Championship, UEFA Champions League, UEFA Europa League, National Women’s Soccer League, Concacaf and more
  • News offerings available include renowned CBS News programs, new series such as 60 Minutes+, live streams of local affiliates in over 200 markets across the U.S. and the 24-hour streaming news service CBSN
  • Paramount+ to launch in the U.S. on March 4, 2021 with broad distribution and leading launch sponsors, including General Motors, Expedia and Procter & Gamble

ViacomCBS Inc. is planning to put some of the biggest movies from its Paramount film studio on its Paramount+ streaming service within two months of their theatrical release, Chief Executive Officer Bob Bakish told investors Wednesday

The Wall Street Journal reports the announcement makes ViacomCBS the latest major media company to disrupt the traditional theatrical window, long a Hollywood staple, as the rise of streaming services like Netflix Inc. reshapes the exhibition industry.

The streaming service, whose ad-free version will launch in the U.S. on March 4, will include a movie library with over 2,500 titles from the Paramount and Miramax movie studios, Bakish said Wednesday. Every new Paramount movie would become available on the Paramount+ platform after appearing in theaters, he added.

ViacomCBS’s decision to shorten the theatrical window follows similar moves by rivals including Walt Disney Co. , Comcast Corp.’s NBCUniversal and AT&T Inc.’s WarnerMedia that are seeking to balance their lucrative theatrical exhibition businesses with the success of their own video-streaming services, which have become central to their owners’ corporate strategies.

ViacomCBS isn’t being quite as bold as WarnerMedia, which last year decided to put all its 2021 theatrical movies on its HBO Max streaming service at the same time they premiered in movie theaters.

ViacomCBS told investors Wednesday that it had nearly 30 million paying subscribers to its video-streaming services, which include CBS All Access—which will now be known as Paramount+—and Showtime.

At the outset of Wednesday’s presentation unveiling the streaming service, ViacomCBS Chair Shari Redstone and Mr. Bakish co-starred in a mini-action movie that featured Bakish parachuting onto the Paramount lot. Ms. Redstone opened the presentation by mentioning her father, the late media mogul Sumner Redstone, noting that the company would continue to give priority to content with an emphasis on streaming distribution.

“This is not your father’s Viacom,” Ms. Redstone said. “And it’s not my father’s either.”

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