New streaming services have been launching at an unrelenting pace in recent years, but with the market reaching its saturation point, two streamers have decided to combine forces. This Monday, Paramount Global announced Showtime will be integrated into Paramount Plus in the US and the combined offering will be rebranded as “Paramount Plus with Showtime.”
Paramount’s CEO Bob Bakish wrote in a memo to staff that the integration will take place across streaming and linear platforms later this year. The premium streaming tier and the linear network currently known as Showtime will both become Paramount Plus with Showtime.
In addition to bringing Showtime content to the Paramount Plus service in the US, Paramount will also broadcast Paramount Plus originals on the Showtime network.
Bakish continued in his memo: “This new combined offering demonstrates how we can leverage our entire collection of content to drive deeper connections with consumers and greater value for our distribution partners. This change will also drive stronger alignment across our domestic and international Paramount+ offerings, as international Paramount+ already includes Showtime content. And, very importantly, this integration will unlock operational efficiencies and financial benefits across our broader portfolio.”
Bakish also says that “this change brings uncertainty for the teams working on these brands and businesses.” It sounds likely that not everyone is going to have a job by the time the integration is complete, but more details will be shared “in the coming weeks.”
As Paramount moves to merge its two streaming services, President and CEO of Showtime and Paramount Media Networks Chris McCarthy says the company will “divert investment away from areas that are underperforming and that account for less than 10% of our views.” This suggests that cancellations and removals are coming as well.
Deadline even confirmed three of the cancellations shortly after the news broke. Paramount will not bring back Let the Right One In or American Gigolo for season 2, and the unaired Shailene Woodley series Three Women is currently being shopped to other networks.
Paramount Global hasn’t revealed any specific dates yet regarding the merger.