Paramount+ and Showtime are merging exactly a quarter ahead of schedule. Paramount+ with Showtime will launch June 27, Paramount Global said on Monday. Previously, the timeline for the merge and rebrand was the end of September, or the end of Q3, not Q2.
How much is a quarter worth? Well, in the first quarter of 2023 alone, this merger of services cost Paramount Global nearly $1.7 billion. In other words, it could be quite significant.
The Showtime OTT (over-the-top) app will be shut down later this year, Paramount said this afternoon. The linear channel will wait for that moment to rename with the same name, albeit more confusing for the format: Paramount + with Showtime.
As previously reported, Paramount+ with Showtime will cost $11.99 a month, $2 more than the tier’s previous price. Paramount+’s “Essential” plan (excluding Showtime) will increase $1 a month from $4.99 to $5.99.
“This summer, Paramount+ will officially become the streaming home of Showtime, further strengthening our role as a total home service,” Tom Ryan, president and CEO of Paramount Streaming, said Monday. “By integrating Showtime’s premium and critically acclaimed portfolio with the service’s already large and popular slate, all at a competitive price point, we will solidify Paramount+ as a cornerstone in streaming.”
“From ‘Yellowjackets’ to ‘Your Honor,’ Showtime is home to big, premium and sophisticated series that will now be complemented with originals and blockbuster films in line with Paramount+ with Showtime,” said Chris McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks. “Together, Paramount+ and Showtime will offer our consumers a much more rewarding experience with our vast set of one-of-a-kind originals and a vast library of iconic shows and blockbuster films.”
Many of those “large, premium, sophisticated series” will be mined for any potential leftover gold until the pots are completely empty. Paramount + with Showtime is planning more “Billions” spin-offs, “Dexter” spin-offs, more from the “Yellowstone” universe, and so on; according to Deadlinemore “Weeds” and “Nurse Jackie” are also on the register.
The news of the launch date actually leaked later this week via an email from Apple TV to its users who sign up for Showtime. For CordCutterNews.comthose consumers received an email that said, “SHOWTIME will be fully integrated into Paramount+ around June 27, which means your subscription will include even more blockbuster movies and shows under one service, Paramount+ with SHOWTIME. No action is required to enjoy the extended benefits of this Apple TV channel.
We’re sure Paramount enjoyed that action.