Paramount is reportedly working on a potential merger between Paramount+ and other existing streaming services.
First details on what could be a major shift in the home entertainment landscape come from CNBC. Its sources say Paramount is having “active discussions with other media and tech companies” about the possibility of co-ownership over Paramount+.
Interestingly, per the report, Warner Bros. Discovery has indicated interest in a merger of its own streaming service, Max, and Paramount+. It’s unclear what a joint Max and Paramount+ streaming service would look like, and a lot still needs to come together before such a deal could happen. Another option could see Paramount working with another technology platform.
CNBC obtained thoughts shared by co-CEO Chris McCarthy during a recent town hall meeting: “What they don’t have is our scale of content, and together we will make for a very powerful combination to drive more minutes and greater profits.”
The idea is that a merger could give subscribers more content to stick around for while removing losses from Paramount Global’s balance sheet. Co-ownership isn’t likely to be a 50-50 split should any negotiations proceed.
The Wall Street Journal reported earlier this year that Comcast was interested in merging Peacock with Paramount+, but CNBC sources say that talks for a deal did not proceed. Late last year, Showtime’s standalone TV channel was folded into the Paramount streaming service and rebranded to Paramount+ With Showtime.
“The sheer volume of hit content that we could offer together would be tremendous across TV, film and sports, and would attract millions of viewers,” McCarthy reportedly added during the town hall. “Plus, we would share in all other non-content expenses.”
Like its current streaming competitors, Paramount+ currently offers a selection of exclusive shows and movies, including Halo, Knuckles, a variety of Star Trek programming, and more. The company announced plans for a price hike last week, plotting a course to raise costs for its tiers starting August 20. If you’re a frequent streaming service enjoyer, you can click here for our list of the best streaming bundles and how to take advantage of them.
Michael Cripe is a freelance contributor with IGN. He started writing in the industry in 2017 and is best known for his work at outlets such as The Pitch, The Escapist, OnlySP, and Gameranx.
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