Showtime’s Exit Signifies Paramount’s Intention To Merge Streaming Services
On Thursday, Paramount Global said that it will put Tom Ryan, who oversees Paramount Streaming, in charge of the streaming service, and Chris McCarthy, who now oversees Showtime’s network operations, in charge of other linear cable networks like MTV and Comedy Central.
David Nevins, a senior executive at Paramount Global, will leave the firm at the end of the year after joining Showtime in 2010 and leading the premium network since 2016.
Paramount Global is rescheduling Showtime in a way that might put an end to showtime as it has been existing for more than 10 years-as a stand-alone premium cable network that produces prestige hits like “Billions,” “Dexter,” “Weeds,” “Yellowjackets,” and “Homeland.”
According to people familiar with the situation, the firm is contemplating the concept of combining Showtime into Paramount+ and exploiting the network’s popular programming to drive subscribers to Paramount. Along with Warner Bros, the business wants Paramount to rank among the top five streaming services globally. Netflix, HBO Max from Discovery, Prime Video from Amazon, and Disney +, according to the persons who preferred to remain anonymous because the conversations are private.
According to the sources, no decisions have been taken regarding Showtime’s time ahead, and no changes are on the horizon.
As of right now, Paramount+ consists of 43.3 million users worldwide, and by 2024, they hope to have 100 million.
However, the company previously claimed that it had 64 million subscribers across all of its streaming services, including Showtime, Paramount+, Noggin, BET+, and a few other small groups. In the first quarter of this year., Bakish claimed that millions of people had withdrawn from linear pay TV, costing Showtime 500,000 customers.
The Showtime programs could be accessed by Paramount+ subscribers via the Paramount+ app for either $7.99 per month with advertisements or $12.99 every month without them owing to a package deal that Paramount Global announced in August. The sources claim that the plan was the first step toward Showtime potentially joining Paramount+ as a title, thereby merging the two services.
According to two of the people, Paramount Global officials are also considering moving Paramount+ original series and films to Showtime, thereby turning Showtime into a mirror of Paramount+’s programming that doesn’t air on other TV networks. That would pacify pay-TV companies, who could change their prices in light of the combined streaming service.
The elimination of Showtime as a separate company would also result in cost savings through headcount reductions, such as Nevins’ departure, and technological and marketing overlaps.
