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Paramount+ could be subject to considerable change when the service’s parent company, Paramount, is sold to Skydance. Skydance is injecting $8 billion in Paramount in exchange for the Redstone family’s voting shares. That equates to roughly 77% of the family’s voting shares. In doing so, Skydance and Paramount are merging into one, which ends the Redstone family’s involvement in Paramount. This saga dates back months, with Shari Redstone holding talks to sell Paramount back in November 2023.
With this deal, Skydance earns ownership rights to everything under the Paramount umbrella. That includes CBS, Paramount+ and the host of cable TV channels like MTV, BET and Nickelodeon. For now, this means nothing for how Paramount+ and a service like Pluto TV operate. Skydance does not have a streaming service that it would prioritize over these. Additionally, Paramount+ is one of the most popular services among American users.
However, there remains speculation that Paramount+ is at risk. According to television analyst account TV Grim Reaper, there’s “no chance that Paramount+ survives the new ownership in current form.” That’s based on what Jeff Shell, the incoming President at Paramount Global as part of this takeover, said today. First, he said that Paramount+ will essentially sell content to all instead of hoarding it on Paramount+.
Second, streaming still plays a dominant role in a world where linear TV continues on a decline. Yet, there is still a future for traditional TV at a time when streaming is everywhere.
“The experience right now is not great,” Shell said during a call with shareholders on Monday. “For consumers, No. 1, if you have all these streaming services, you want to watch something, you don’t know if you get it. You have to try to remember where it is. For most consumers, who are price-sensitive, it is pretty expensive now to get all these services. It actually ends up being more expensive than an MVPD bundle….
Source link : https://worldsoccertalk.com/tv/whats-the-plan-for-paramount-now-after-skydance-takeover/
Author : Kyle Fansler
Publish date : 2024-07-08 20:27:32
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