Paramount+ seeks merger with other streaming service, incl Max

Paramount is continuing to look for a partner regarding their streaming service as new reports of a merger surface. It was revealed back in February that Paramount+ and Peacock were deep in discussions about potentially joining forces. Five months later, however, the move has ultimately failed to materialize. While a partnership between the two companies is still possible, a new report suggests a developing new outcome.

CNBC is claiming that Warner Bros. Discovery is interested in partnering with Paramount. The move would essentially pair Max with Paramount+ as a new joint venture. According to recent figures, Max has grown to hold a 14% market share among American streaming services.

While this particular number is seemingly not very high, it is currently the third-biggest figure among streaming services. Only Amazon Prime Video (22%) and Netflix (22%) have a higher market share at the moment.

Meanwhile, Paramount+ is widely considered to be losing money. The CBS streaming service currently has a 9% market share. Along with the aforementioned services, Disney, Hulu, and now even Apple have more subscribers than Paramount+.

Paramount+ needs to find a partner to help ease financial issues

Because of these lackluster numbers, Paramount is having ongoing talks with multiple media companies over a merger. As various streaming services reportedly continue to hemorrhage money, conglomerates are exploring ways to combat the issue. One of these solutions would be to combine forces and share more profits.

While nothing is official just yet, potentially combining Max and Paramount+ would allow the duo to compete with bigger streaming services. Disney most recently combined with other companies to grow its platform. Disney+, Hulu, and ESPN+ are now all under the same umbrella.

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Source link : https://worldsoccertalk.com/tv/paramount-seeks-merger-with-other-streaming-service-incl-max/

Author : Chris Moore

Publish date : 2024-07-02 17:29:21

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