Showtime and Paramount+ To Merge With Rebrand Planned

'Paramount+ With Showtime' is coming later this year.


Earlier this week, Paramount announced some major changes to its linear and streaming businesses, the merge between Paramount+ and Showtime in both areas. Both the linear Showtime channel and the premium version of Paramount+ will be rebranded and the company will focus on TV series that have "franchise" potential, or shows that have been successful in the past. One day after the announcement, TVLine reported that Dexter: New Blood Season 2, aka a Harrison Morgan spin-off won't see the light of day after all. The company is reportedly moving towards a whole new Dexter series about the character's early years.

Paramount+ and Showtime are set to combine into one shared service later this year, under the name 'Paramount+ With Showtime'. This move may result in cost savings in the $300-$400 million range, according to a Wells Fargo analyst. The linear Showtime channel will be rebranded, also as Paramount+ With Showtime, and Showtime content will be available to stream on Paramount+’s ad-free tier.

In 2022, Paramount added Showtime to Paramount+ in a discounted bundle offering, while keeping the Showtime linear app and channel separate. According to The Hollywood Reporter, this new structure fully merges the two.

Read Paramount CEO Bob Bakish's memo right below:


Almost one year ago, we announced that ViacomCBS would become Paramount — harnessing the power of our combined portfolio to become one, integrated company. Since then, I have been tremendously proud of the many ways we have worked together across platforms, brands, and continents to consistently deliver as global leaders in the future of entertainment.

In that same spirit, I’m thrilled to share the next step in our company’s evolution. Today, we’re announcing that we will be fully integrating SHOWTIME into Paramount+ across both streaming and linear platforms later this year — providing even more popular franchises and hit originals for viewers to enjoy. To reflect this change, both our premium streaming tier on Paramount+ and the SHOWTIME linear network will become “Paramount+ with SHOWTIME” in the U.S.

SHOWTIME has captivated audiences for decades with ambitious original series that defined premium content and fandom. Its name will always stand for critically acclaimed, groundbreaking entertainment and creative excellence. Now, with SHOWTIME’s content integrated into our flagship streaming service, and select Paramount+ originals joining the linear offering, Paramount+ will become the definitive multiplatform brand in the streaming space — and the first of its kind to integrate streaming and linear content in this way.

This new combined offering demonstrates how we can leverage our entire collection of content to drive deeper connections with consumers and greater value for our distribution partners. This change will also drive stronger alignment across our domestic and international Paramount+ offerings, as international Paramount+ already includes Showtime content. And, very importantly, this integration will unlock operational efficiencies and financial benefits across our broader portfolio.

Chris McCarthy will continue to lead the SHOWTIME studio and oversee network operations for the linear channel. In tandem, he will work closely with Tom Ryan, who will oversee the “Paramount+ with SHOWTIME” streaming business.

While we are confident this is the right move for our company, our consumers, and our partners, we know this change brings uncertainty for the teams working on these brands and businesses. We are committed to being as transparent and thoughtful as possible throughout this process, and we expect to share additional details in the coming weeks.

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