Paramount CEO Calls Reports Showtime Streaming Service Is Shutting Down ‘Just a Rumor’

thewrap.com:

Wall Street Journal reported earlier this week that Paramount, citing sources familiar with the matter, was planning to shift Showtime content — including the hit series “Yellowjackets” and “Billions” — to Paramount+.Paramount announced a few weeks ago that Paramount+ would be offering a Showtime bundle to U.S.

subscribers at a special, limited time price of $7.99 per month for the ad-supported plan and $12.99 per month for the ad-free package through Oct.2, following which prices will increase.

In August, it was also revealed that Walmart+ subscribers would be able to access Paramount+ come September, in the retailer’s effort to compete with the dominant Amazon Prime Video.Bakish said Paramount’s plan to build out its streaming platforms, which also includes the ad-free Pluto TV, came up in conversations it had with one distributor during contract negotiations.

The company uses Showtime in a variety of ways in bundling content outside of the U.S.“The reality is when you talk to partners, you have a much bigger conversation at the renewal point,” he said. “It wouldn’t surprise you that we might want to have a conversation about how do we make our product more valuable to consumers and distributors.”He pointed out the company has come a long way since making a number of major strategic decisions to rebrand under the Paramount brand, retiring the ViacomCBS corporate name in March and retiring the CBS All Access streaming service. .