Paramount Plans To Merge Paramount+ And Showtime App, Increase Price: Report
Portfolio Pulse from Lekha Gupta
Paramount Global plans to merge its Paramount+ streaming service with the Showtime app on June 27, increasing the price to $11.99. The standalone Showtime app will be sunset, and the premium Showtime cable-TV network will be rebranded by end-2023. The company aims to reduce content spending and leverage profit.
May 23, 2023 | 10:37 am
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Paramount Global's merger of Paramount+ and Showtime app, along with price increases, aims to reduce content spending and leverage profit. PARA shares are trading higher by 1.33% premarket.
The merger of Paramount+ and Showtime app, along with the price increase, is expected to reduce content spending and increase profits for Paramount Global. This news is directly related to the company's strategy and has a positive impact on its stock price, as evidenced by the 1.33% premarket increase.
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