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Paramount Plus, an American subscription video-on-demand service, is set to merge with Showtime, and the date for the consolidation was confirmed to be on June 27. Paramount Global will combine its flagship streaming service with its Showtime app in the United States.
The integration of Paramount Plus and Showtime premium television network will offer more than just streaming options. Once the merger is completed, the blended companies will operate as Paramount+ with Showtime.
Paramount Global will also discontinue the standalone Showtime app by the end of this year. Under the new branding, the Showtime TV network will now include content from Paramount+, such as the popular “Yellowstone” drama series.
In any case, the company expects to save some cash on content spending after the integration of Paramount Plus and Showtime next month. This will also make the streaming service business more profitable for Paramount Global.
Then again, the merger will also result in higher subscription rates. Paramount+ is set to raise its prices after Showtime is added to its platform. The Paramount+ with Showtime premium option will go up from $9.99 to $11.99 per month, while the Paramount+ without the Showtime content will be $5.99 from the original price of just $4.99.
Despite the price adjustments, Paramount Plus’ set of streaming offerings remained at a competitive level compared to its rivals. For instance, Warner Bros. Max streaming service offers an ad-supported option starting at $9.99, while its ad-free tier costs $15.99.
“This summer, Paramount+ will officially become the streaming home for Showtime, further advancing our lead in being the total household service,” The Hollywood Reporter quoted Paramount Streaming’s president and chief executive officer, Tom Ryan, as saying in a statement. “By integrating the Showtime premium and critically acclaimed portfolio with the service’s already broad and popular slate, all at a competitive price, we will solidify Paramount+ as a cornerstone in streaming.”
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