ViacomCBS executives held a virtual investor event today where they outlined the strategy for Paramount+, the streaming service set to launch on March 4 that’s basically a rebranded, expanded version of CBS All Access.
In addition to launching in the United States, executives said the service will be available across Latin America and Canada on March 4, with a Nordic launch a few weeks later and an Australian launch also planned for this year.
And they said that Paramount+ will cost $4.99 per month with ads in the U.S. (less than the $5.99 charged for CBS All Access), or $9.99 without ads and with additional sports, news and live TV content. There are also plans to bundle this with the company’s premium subscriptions, such as Showtime.
Yes, it’s yet another streaming service with a plus in its name. But the company’s streaming president and CEO Tom Ryan said research has shown that ViacomCBS brands — not just Paramount and CBS, but Comedy Central, MTV, Nickelodeon and more — are well-known to viewers, and they’ll all be front-and-center in the new service. Plus, it’s worth noting that ViacomCBS already produces a number of hit streaming shows on other services, such as “13 Reasons Why,” “Emily in Paris” and “Jack Ryan.”
ViacomCBS executives also argued that Paramount+ will have a unique combination of live news, live sports and (to use a phrase repeated throughout the event) “a mountain of entertainment.” And from a product perspective, the service will offer originals in 4K, HDR and Dolby Vision, with easy downloads.
On the entertainment side, the service is supposed to have more than 30,000 TV show episodes and 2,500 movies. And the library will expand with new shows like a new version of “Frasier” with Kelsey Grammer returning to the role, as well as a “Halo” TV show that will now debut on Paramount+ instead of Showtime in early 2022. The service is also rebooting a variety of Paramount properties like “Love Story,” “Fatal Attraction” and “Flashdance.”
And like CBS All Access before it, Paramount+ will be home to new Star Trek shows — not just the already launched “Discovery,” “Picard” and “Lower Decks,” but also the upcoming “Strange New Worlds” and the kids animated series “Prodigy.”
On the movie side, Paramount CEO Jim Gianopulos said the company is still a big believer in the theatrical model, but it will be bringing some 2021 releases — including “A Quiet Place Part 2,” the first “Paw Patrol” movie and “Mission Impossible 7” — to Paramount+ in an accelerated fashion, 30 to 45 days after they come to theaters (a much less aggressive strategy than HBO Max, which will stream all Warner Bros. movies this year simultaneously with their theatrical release). And there will be new straight-to-streaming movies as well, starting with reboots of “Paranormal Activity” and “Pet Sematary.”