Paramount Aims for Growth… by Shrinking?

 Paramount has made itself a rather confusing part of the wider streaming world. At a time where we are seeing most studios and brands aim for streaming growth, they can’t quite seem to decide if they are in or out of the industry. With the revelation that they’re seeking to jettison not only Showtime, but also BET, the waters are murkier than ever. Do they even really know what they’re aiming for? Expert entertainment attorney Brandon Blake, with Blake & Wang P.A, attempts to clear up some of the mystery.

Brandon Blake

Too Many Platforms

While they also seem to have an unclear approach to their streaming position, there can be little doubt that Paramount also has control of too many small platforms. In addition to Paramount+, their strongest performer by far, they have had the solid FAST service, Pluto TV. But add to that Showtime OTT, BET+, Noggin, and so on- and that is rather too many to juggle, especially without a clear frontrunner.

The solution? Jettisoning most of them, or so it seems. September 2023 will see the Showtime app shut down completely, supposedly for integration into the Paramount+ service as Paramount+ with Showtime. Now BET is on the market, BET+ included. Noggin, if anyone even remembered it existed, is also up for sale, although they intend to keep a stake in the kid-focused entity.

Paramount+ Struggles

While Paramount+ and Pluto TV have been the only streaming brands in their stable to see real traction in the last few years, Paramount+ itself remains an under-achiever. It’s yet to inch into profit, and this year is slated to see peak content spend, too. No doubt the Showtime integration (and accompanying writedowns) are hoped to aid that a little.

However, there’s also a slim chance that Paramount itself could be up for sale. And that leaves us in a sticky place- what exactly is Paramount’s plans for the future? At the moment, all they seem to be doing is chasing a better looking balance sheet. Needed, of course, but despite a lot of talk and bluster, no one really seems to have a clear future planned for the service. And that lack of real focus could, in the end, be a poison for the entity itself. At this point, we can only wait and see if a better, clearer path is forthcoming.