ViacomCBS has set March 4 because the launch date for Paramount Plus, the corporate’s effort to be a part of the direct-to-consumer streaming revolution alongside its bigger rivals.
The subscription service will debut on that date in the U.S. and Latin America. ViacomCBS will host a digital investor presentation on Feb. 24 to element the corporate’s evolving streaming technique in addition to fourth-quarter and full-year monetary outcomes for 2020.
Paramount Plus can be a much-expanded rebrand of CBS All Entry, the subscription service launched in 2014 that mixed stay streaming of CBS’ community programming through its 150-plus native associates, together with NFL video games, with a menu of authentic collection, catch-up viewing and library reveals. With the relaunch, Paramount Plus may also function devoted hubs for ViacomCBS’ core cable properties together with Nickelodeon, MTV, BET and Comedy Central, for a complete of some 30,000 titles. At current, CBS All Entry is believed to have about 8-9 million subscribers.
ViacomCBS CEO Bob Bakish has made the build-out of All Entry a high precedence for the reason that December 2019 merger of Viacom and CBS Corp. The Feb. 24 investor presentation will discuss up ViacomCBS’ place with an enormous footprint in the ad-supported streaming enviornment with the rising Pluto TV, in addition to its subscription bids with Paramount Plus and the standalone Showtime app. Paramount Plus may also have an ad-supported part by way of the CBS stay streams and the CBS Information, sports activities highlights and “Leisure Tonight”-branded theme channels that complement the mothership Eye on CBS All Entry.
ViacomCBS doesn’t have the steadiness sheet to match Netflix or Disney for spending on streaming content material. Bakish’s transfer as articulated in December is to construct “a linked ecosystem of differentiated choices throughout free and pay streaming.”
ViacomCBS’ lack of a transparent streaming plan for Wall Avenue had been a drag on the inventory, which sank to just below $12 because the coronavirus disaster hit the U.S. in March 2020. However information of the Paramount Plus launch date and investor presentation comes as ViacomCBS shares have been climbing steadily. The inventory is up 80% over the previous six months after closing Friday at $45.30, and up 35% for the yr to date.
Shares have little question been boosted by latest ViacomCBS distribution offers with digital MVPDs, notably YouTube TV and Hulu, that promise to beef up the corporate’s all-important home affiliate income line. That plus a better-than-expected promoting market and a extra formidable streaming technique has earned ViacomCBS optimistic feedback from influential analysts in the previous few weeks.
“We’ve written positively on our expectations for Paramount+, stating we predict the platform is usually a winner in the streaming wars given its mixture of sturdy IP, information, and sports activities,” JPMorgan’s Alexia Quadrani wrote in a notice Jan. 12.
ViacomCBS stated Paramount Plus would launch in the Nordics on March 25 and Australia in mid-year. The Canadian model of CBS All Entry will rebrand as Paramount Plus on March 4 however the expanded content material lineup will change into accessible later in the yr.