By Helen Coster
(Reuters) -Paramount Global on Monday said it would integrate Showtime with Paramount+ across both streaming and linear platforms later this year, rebranding the premium tier of its streaming service to “Paramount+ With Showtime.”
Later this year, the Showtime streaming service – now available for $10.99 per month – will no longer be available, and instead will be combined into the Paramount+ streaming service.
Paramount Global, like other media companies, is prioritizing its streaming services while also distributing content through pay-TV cable providers.
Paramount Global has relied on Showtime as an edgier complement to the general market Paramount+ brand. Popular Showtime series include “Billions,” “Yellowjackets” and “Dexter.”
In a memo to staff Monday, Chris McCarthy, Paramount Global president of entertainment and youth brands, said that the company will divert investment away from areas that account for less than 10% of views, and focus on shows that have franchise potential.
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Paramount+ streaming services added 4.6 million subscribers in the third quarter ending Sept. 30, compared to the 4.9 million added in the preceding quarter. That figure includes subscribers to BET+ and the Noggin children’s app, in addition to Paramount+ and Showtime.
(Reporting by Helen Coster in New York and Chavi Mehta in Bengaluru; Editing by Anil D’Silva and Aurora Ellis)