ViacomCBS has set the launch date for Paramount Plus March 4 as the company’s attempt to join the Direct-to-Consumer Streaming Revolution with its larger rivals.
Membership service will begin in the US and Latin America on that date. ViacomCBS will host a virtual investor presentation on 24 February to expand the company’s emerging streaming strategy as well as fourth quarter and full-year financial results for 2020.
Paramount Plus will be a vastly expanded rebrand of CBS All Access, a subscription service launched in 2014 with a menu from the original series featuring live streaming of CBS’s network programming through its 150-plus local affiliates, including NFL games Combines. View and library shows. Along with Relonch, Paramount Plus will also have dedicated hubs for ViacomCBS ‘core cable assets including Nickelodeon, MTV, BET and Comedy Central for some 30,000 titles. Currently, CBS All Access has approximately 8-9 million subscribers.
Viacom and CBS Corp. in December 2019 by ViacomCBS CEO Bob Bakish. Since the merger of All Access has given top priority to the build-up. The presentation, to be held on 24 February, will speak of ViacomCBS’s position in the ad-supported streaming sector with a large footprint. Its membership bid with the growing Pluto TV as well as Paramount Plus and the standalone Showtime app. Paramount Plus will feature an ad-supported component through the CBS live stream and CBS News, sports highlights and the “Entertainment Tonight” -branded theme channel, which complement Maternity Eye on CBS All Access.
ViacomCBS does not have a balance sheet to match Netflix or Disney to spend on streaming content. Bakish’s move, expressed in December, is to “build a linked ecosystem of differentiated offerings in free and pay streaming.”
ViacomCBS’s lack of a clear streaming plan for Wall Street was drawn on the stock, which fell to less than $ 12 in March due to the coronovirus crisis in the US. But Paramount Plus launch date and investor news comes in the form of ViacomCBS. Shares are steadily climbing. The stock is up 80% in the last six months after closing at $ 45.30 on Friday, and up 35% for the year.
The shares have no doubt fueled recent ViacomCBS distribution deals with virtual MVPDs, particularly YouTube TV and Hulu, promising to beef up the company’s all-important domestic affiliate revenue line. In addition, an improved-than-expected advertising market and a more ambitious streaming strategy have earned ViacomCBS positive comments from influential analysts over the past few weeks.
“We have written positively on our expectations for Paramount +, we think the platform could be a winner in the streaming wars given the strong IP, news and sports mix,” JP Morgan’s Alexia Chaturvedi noted. Wrote on 12 January.
ViacomCBS said that Paramount Plus will launch in the Nordics on 25 March and in Australia in mid-year. The Canadian version of CBS All Access will rebrand as Paramount Plus on March 4 but the expanded content lineup will become available later in the year.