ViacomCBS units the relaunch date for Paramount + Streamer on March 4th
ViacomCBS will open the curtain on its renamed and expanded streaming service Paramount + on March 4th, the company announced today. This is the final step in his effort to compete with OTT greats like Netflix and Disney +.
The renamed service, which will replace the long-running streamer CBS All Access and include new originals from across the ViacomCBS portfolio, will arrive in the US, Canada and Latin America on March 4th and premiere in the Nordic countries on March 25th, said the enterprise. The platform will debut in Australia later in the year.
ViacomCBS plans to unveil its broader streaming strategy to investors on February 24, a week before the service is scheduled to be relaunched, which includes Paramount + as well as the free, ad-supported streamer Pluto TV and the premium subscription service Showtime OTT.
The early March premiere date means Paramount + will be introduced to consumers less than a month after the upcoming Super Bowl broadcast, which will air on CBS on February 7th. The timing makes it almost certain that the game will be a sizable marketing opportunity for the upcoming service that ViacomCBS hopes will attract a wide range of viewers.
ViacomCBS, which was founded after the merger of CBS and Viacom in December 2019, has tried to position its company so that it can better take advantage of the possibilities of direct-to-consumer streaming. In October, the management was revised in order to streamline processes and make streaming more central to the company.
With Paramount +, the company aims to leverage its film and show library to attract viewers while taking advantage of the growing opportunities in international markets with a globally recognized brand name.
Unlike competitors who launched entirely new consumer services over the past year, Paramount + 's debut requires reeducation for consumers who may be familiar with the CBS All Access brand, which is about to close.
Like many other entertainment companies, streaming is becoming an increasingly important part of ViacomCBS's business. Speaking to investors in November, Bob Bakish, CEO of ViacomCBS, outlined the company's streaming growth. Domestic streaming and digital video revenue increased 56% year over year to $ 636 million. The company's subscription stream revenue increased 78% year over year.
The ad-supported free streamer Pluto TV also made gains, with monthly active domestic users increasing to 28.4 million and monthly active users increasing to 36 million worldwide, Bakish said.