Paramount CEO Bob Bakish Says Streaming Bundling Will Increase, Possibly With Third Parties; Cites Evidence That Paramount+ Combo With Showtime Boosted Viewing
deadline.comParamount Global CEO Bob Bakish isn’t ruling out the possibility of the company teaming with other players in the media space to create a more viable streaming bundle. “We’ve been believers in bundling for a long time,” the exec said on the company’s second-quarter earnings call. “Bundling has been one of the tried-and-true methods of value creation in media and certainly as we enter the streaming space, bundling is part of our strategy.” The company’s quarterly report showed narrower streaming losses but only a modest gain in Paramount+ subscribers, to 61 million.
The flagship streaming service integrated Showtime just before the June 30 end of the quarter, with higher prices accompanying the revamp.
Revenue at Paramount+ — a majority chunk of the overall $1.7 billion in the Direct-to-Consumer division — increased 47% over the year-earlier quarter.
Bakish noted that the company has long pursued bundling in various forms. Paramount+ and Showtime were offered as a discount-priced bundle when they were still separate services, and the company also created hard bundles with pay-TV operators, especially outside the U.S.
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