Paramount Global has officially rolled out its integration of Paramount+ and Showtime for $11.99 per month.
The latest offering combines Paramount’s expansive collection of exclusive new originals, hit series, marquee franchises and popular movies from its brands and production studios including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and the Smithsonian Channel, with newly added Showtime content.
“By adopting the boundary-pushing programming of Showtime onto our platform, Paramount+ has fortified itself as the ultimate total household destination in streaming,” Paramount Streaming president and CEO Tom Ryan said in a statement. “Together, these powerhouse brands will showcase the breadth and depth of our content offering from across Paramount. At this price point, we’ll put the value of the Paramount+ with SHOWTIME plan up against any other.”
Paramount+ programming includes the Taylor Sheridan’s “1883,” “1923,” “Tulsa King” and “Special Ops: Lioness,” “Star Trek,” Spongebob Squarepants,” “RuPaul’s Drag Race,” “Dungeons and Dragons: Honor Among Thieves,” “Scream VI,” “NCIS” and “Paw Patrol.” The service also offers access to live events and sports, including the NFL on CBS and thousands of exclusive soccer matches a year, anchored by the UEFA Champions League.
Meanwhile, Showtime programming includes “Yellowjackets,” “Dexter,” “Your Honor,” “George & Tammy,” “Billions,” “The Chi,” “The Curse,” “Fellow Travelers,” “A Gentleman in Moscow,” and The Woman in the Wall.”
“From ‘Your Honor’ to ‘Yellowjackets,’ Showtime is synonymous with provocative and sophisticated series which, when combined with Paramount+ and the mass appeal of our blockbuster movies and originals, makes for an unparalleled array of content choices for the entire household,” Showtime, MTV Entertainment Studios and Paramount Media Networks president and CEO Chris McCarthy added.
Prior to the integration, Showtime’s programming has been available through a bundle with Paramount+.
“Up to now, customers who have used the current Paramount+/SHOWTIME bundle have watched 40% more titles than subscribers with the standalone Paramount+ plan, and they spend about 20% more time on Paramount+,” a spokesperson told TheWrap.
The spokesperson noted that “Yellowjackets” currently ranks as the highest Showtime driver of starts and consumption on Paramount+ since the bundle launch, followed by “Your Honor.” The company anticipates that “Billions” and “The Chi,” which return on Aug. 11 and 4, respectively, will also be strong performance drivers for the combined service.
In addition to the top tier of Paramount+ increasing from $9.99 per month to $11.99 per month, the cheaper, ad-supported Essentials tier, which will not include Showtime, has increased to $5.99 from $4.99 per month. Consumers who already pay for the Paramount+/Showtime bundle are not be affected by the price increase.
A free 30-day trial of Paramount+ with Showtime will be available for new customers from now through July 12. Meanwhile, existing Premium subscribers will automatically receive access to the new rebranded plan.
The Showtime linear channel currently remains as of this time, but will be rebranded to Paramount+ with Showtime in the future. Internationally, Showtime content is already included on Paramount+. Showtime’s standalone app will shut down by the end of 2023.
The move comes as Paramount Global is pushing to turn its streaming business profitable. The combination is expected to generate $700 million of future expense savings for the company.
As of the end of its latest quarter, Paramount Global reported a total of 60 million Paramount+ subscribers globally. Losses in the streaming business increased to $511 million in the quarter compared to $456 million a year ago, but fell from $575 million in the December quarter. Revenue in the direct-to-consumer division grew 39% year over year to $1.5 billion. At the time, executives said that Paramount remained on track for peak streaming investment in 2023 and would return to free cash flow in 2024.
Paramount+ With Showtime comes after Warner Bros. Discovery launched its Max rebrand on May 23, combining the libraries of HBO Max and Discovery+. Max offers three pricing tiers: Max Ad Lite for $9.99 per month, Max Ad-Free for $15.99 per month and Max Ultimate Ad-Free for $19.99 per month.
In addition, Disney+ and Hulu will combine into one app offering by the end of the year.
