Bob Buckish, president and chief executive officer of Viacom CBS Inc. and Sherry Redstone, president of ViROM CBS Inc., ringed the opening bell on Thursday at the Nasdaq marketsite in New York, US, during the company’s merger celebration. 5 December 2019.
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ViacomCBS said it would launch its Paramount + streaming service on March 4.
Paramount + will enter streaming wars in increasingly crowded times. It will join rivals such as Disney’s Hulu and Disney +, NBCUniversal’s Peacock, and WarnerMedia’s HBO Max as traditional media companies embrace streaming.
The company’s stock in the premarket was down more than 1%.
The company’s current streaming service, CBS All Access, costs $ 5.99 per month with commercials and $ 9.99 per month, although all of the live programming includes commercials. Earlier, the company’s chief digital officer, Mark DeBivois, stated that CNBC pricing would not change. A spokesperson said that we can expect more hearing on the pricing on February 24.
Paramount + will offer new content, as well as CBS All Access’ current offering of 20,000 episodes and films from MTV, Nickelodeon, Comedy Central, BET, Paramount Pictures, CBS, the original series and more.
The company said Paramount + will debut in Latin America on March 4, Nordics on March 25 and Australia in mid-2021. ViacomCBS ‘fourth quarter earnings are due on February 24, where it is expected to have an overview of its streaming strategy.
Disclosure: NBCUniversal is the parent company of CNBC.