Paramount+ To Boost Prices; Paramount Global Will Take Up To $1.5 Billion Q1 Content Charge, See $700 Million In Cost Savings
will go from $9.99 to $11.99 a month. The Paramount+ essential tier, without Showtime, will rise a buck from $4.99 to $5.99, for new and existing customers.
That will continue to boost Par’s substantial streaming revneue as it hits peak streaming investment and operating losses in 2023, he said, reiterating plans to move towards streaming profitability and overall positive free cash flow for the company in 2024. The integration of Showtime will be a major contributor. He anticipated $700 million in fuure annual expense savings.Paramount Global Shares Dip As Q4 Ad Sales Fall, Streaming Costs Rise; Paramount+ Adds 9.
“A single service requires less content to acquire and retain subscribers than two independent services,” Chopra said. Showtime has higher churn. And its viewers tend to congregate around a handful of franchises that represent half of its content amortization expense. This combo “makes Paramount+ the definitive multi-platform service in the streaming space,” he said with significant cost savings across content, marketing and tech, as well as revenue padded by the price hike, which he thinks will take since “the integrated product will be more engaging for consumers.”
The Showtime shocker, which combines the premium cable network content with Paramount+ in streaming and linear, was announced recently and will take effect in the third quarter. It’s resulted in
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