Paramount+ To Merge With Showtime in an Attempt to Increase Profitability Amid the growing competition in the streaming industry, Paramount Global announced on Monday it will be fully integrating Showtime with Paramount+.

By Madeline Garfinkle

CHRIS DELMAS | Getty Images

Since the pandemic, competition among streaming services has hit new highs as more platforms emerge and fight for subscribers.

At the end of Q4 2022, Prime Video came in as the number one Subscription Video on Demand (SVOD) market leader in the U.S. at 21%, a mere 1% lead on Netflix (20%). Tied at the bottom were Apple TV+ and Paramount+, both at 6%. Now, in an effort to boost profitability, Paramount Global is fully integrating its Showtime streaming service with Paramount+, a merger intended to grow the platform as a whole.

Related: Is Paramount Global Stock a Hidden Gem in Plain Sight?

"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," Paramount CEO Bob Bakish said in a memo to employees Monday, obtained by Variety.

The integration of Showtime will happen across both linear television and streaming, resulting in its rebranding to "Paramount+ with Showtime." The price of the joint subscription has yet to be determined, but will be announced in the coming weeks, CNBC reported. As of now, a subscription for Paramount+ starts at $4.99 a month, and Showtime at $10.99 a month. The existing bundle for the two currently begins at $11.99 a month.

"This change will also drive stronger alignment across our domestic and international Paramount+ offerings, as international Paramount+ already includes Showtime content," Bakish added in the memo. "And, very importantly, this integration will unlock operational efficiencies and financial benefits across our broader portfolio."

Related: Where Entrepreneurs Can Innovate in the Streaming Service Space

Wavy Line
Madeline Garfinkle

Entrepreneur Staff

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Editor's Pick

A Leader's Most Powerful Tool Is Executive Capital. Here's What It Is — and How to Earn It.
Lock
One Man's Casual Side Hustle Became an International Phenomenon — And It's on Track to See $15 Million in Revenue This Year
Lock
3 Reasons to Keep Posting on LinkedIn, Even If Nobody Is Engaging With You
Why a Strong Chief Financial Officer Is Crucial for Your Franchise — and What to Look for When Hiring One

Related Topics

Starting a Business

5 Tips For Launching a Business While Keeping Your Day Job

Launching a business while holding down a 9-to-5 is no small feat. It's a common path for aspiring entrepreneurs, but it's not without its challenges.

Growing a Business

This Stock Screener is on Sale for Memorial Day

invest while mitigating risk with this top-rated stock screening app.

Business News

The Virgin Islands Want to Serve Elon Musk a Subpoena, But They Can't Find Him

Government officials would like to talk to Tesla's owner as part of an investigation into the Jeffrey Epstein case.

Leadership

Why Time Management Doesn't Work — And How My Team Doubled Their Productivity Once I Started Doing This Instead

Time management is killing your productivity – here's why and what you need to do to increase your productivity instead.

Thought Leaders

Jessica Simpson's Billion-Dollar Secret: 'Being Underestimated Is a Superpower'

Building a fashion empire has taught the pop star that when people assume you're clueless, it only gives you more time to prove them wrong.