Sina Technology News Beijing time on the morning of January 31, according to reports, American film production and distribution company Paramount will rename the company’s Showtime cable TV network and launch its streaming service later this year. Merged into Paramount+.
On traditional TV, Showtime will now adopt the updated name “Paramount+ with Showtime”, while premium premium services for the Paramount+ streaming service will use the same brand name.
Paramount executives also revealed that as part of the rebranding, the company will be laying off staff and making adjustments to programming. Paramount CEO Bob Bakish said the integration will “unlock operational efficiencies and financial benefits across the broader product portfolio. We believe this will benefit the company, consumers, and partners, but It is also clear that this change will create uncertainty for the teams working on these brands and businesses.”
In a separate statement, Showtime chief Chris McCarthy said the company plans to spend less on content that is viewed less than 10 percent of the time. In the meantime, Showtime will shift its focus to shows with “franchise potential.” The company has already begun talking to production partners to ultimately determine what kinds of content make the most sense.
There have been rumors about the merger of the Paramount+ and Showtime brands before, and this time comes at a time when major media giants are increasing their streaming business by merging services while cutting content costs. Later this year, Warner Brother Discovery Channel will merge the company’s HBO Max and Discovery+ services.
Editor in charge: Liu Mingliang
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related events
- Paramount announced the integration of streaming media brands and will start a layoff plan2023-01-31
- ViacomCBS changed its name to Paramount: will focus on streaming media2022-02-15
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