Paramount+ will broadcast live sports and the latest news – Media Play News

Erik Gruenwedel

In the fast-filling over-the-top video space, next year’s launch of the Paramount+ SVOD platform by ViacomCBS could get lost in the crowd. To help avoid this, the platform – which will be rebranded from CBS All Access – aims to differentiate itself from Netflix, Disney+, Hulu and Amazon Prime Video, among others, by streaming live sports and entertainment. recent news.

While Netflix refuses to consider live sports programming, Prime Video is currently showing NFL Thursday Night Football, and NBCUniversal’s Peacock service offers Premier League football from the UK.

Bob Bakich

Speaking on the tax appeal, CEO Bob Bakish said Paramount+ would spin off other SVOD services, including recently launched HBO Max and NBCUniversal’s Peacock, by showing NFL, SEC college football, UEFA football , PGA Golf, CBS News National Live and local affiliates. ; and the “60 Minutes” news program, among others.

“It’s going to be a really differentiated and compelling offering unlike anything really out there today,” Bakish said.

ViacomCBS is banking on Paramount+ and ad-supported sister platform Pluto TV to help prioritize the media giant’s over-the-top video distribution. In July, All Access added 3,500 episodes from Viacom brands as well as approximately 190 Paramount films. Bakish said the All Access/Paramount+ service tests gave favorable reviews. All Access and Showtime OTT ended the quarter with nearly 18 million subscribers combined.

“That consumer response was strong and really served as a proof of concept that gave us the confidence to lean in,” he said.

More importantly, Bakish said consumer response to OTT distribution includes attracting younger age viewers.

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“The average age of new submarines decreased by nearly 10 years and was more diverse,” he said. “We saw a significant increase in time spent streaming. This included more than doubling the time spent with [movies]and Viacom content becoming a strong double-digit share of overall consumption.

ViacomCBS is adding an additional 10,000 hours of content to All Access ahead of the rebranding.

“The response to our selection of Paramount Plus as a brand has been overwhelmingly positive,” Bakish said. “So there’s a lot to be excited about here around Paramount Plus, and we expect substantial incremental growth to come.”

In separate comments, Chief Financial Officer Naveen Chopra said ViacomCBS’ domestic streaming and digital video revenue grew 50% to an annual rate of $2.5 billion, underscoring the need to expand distribution. .

“We see this as a really compelling case for investing to continue to support growth,” Chopra said. “Our investments in content have a lot of leverage, which means that every dollar we spend on content can benefit us across the business, from streaming to linear TV to cinema and adjacent businesses like consumer products.”

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