Paramount+: The Latest Streaming Service to Join the Market

Parker St. Romain, Editor

The streaming wars just got more crowded on Thursday with another company joining the crowd: Paramount+.

ViacomCBS, the parent company of Paramount+, is one of the latest to join the streaming wars with the other media giants. ViacomCBS hopes to draw in customers with content that will be exclusive for subscribers, allowing access to content from all of ViacomCBS’ networks: CBS, MTV, Comedy Central, Nickelodeon, the CW, Smithsonian Channel, VH1, BET, Paramount Network, and several others.

In addition to shows from these channels, the streaming platform will offer most movies made by Paramount Pictures such as the Star Trek and Indiana Jones franchises. Paramount+ will also offer “Paramount+ originals” with shows and movies like “The Offer,” a limited series based off the “Godfather” movies, “Halo,” a show based off the video game, and “Y:1883,” a prequel to the hit show “Yellowstone.”

Movies released by Paramount Studios in theaters will be available to stream on Paramount+ at the same time, a feature similar to HBO Max. After 30 to 45 days on the big screen, movies made by Paramount Studios like “A Quiet Place 2” and “Mission: Impossible 7” will be available on the app, a key feature during the pandemic.

Source: Bloomberg

Another feature on the app will be the availability to watch any channel on the CBSViacom network live, including sports. This is a key feature for those who have “cut the cord.” The Super Bowl is regularly hosted by CBS, which could draw more subscribers in.

The plans are similar to Hulu, with a more affordable “ad-supported plan” at $6 a month, and a premium plan that is commercial free for $10 a month. New members can get a one-month free trial before subscribing, and college students will be able to get 25% off.

This is not their first dive into the streaming wars, however. In 2015, CBS debuted “CBS AllAccess” which showed content strictly from CBS and its sister networks. In Q4 of 2019, CBS merged with Viacom, parent company of Paramount, allowing them to build a better streaming app.

Now with more than eight major streaming platforms, it is more crowded than ever with competing services. With each having certain shows or movies that try to draw customers in, the bill is starting to grow to the same price of cable. Time will only tell if Paramount+ will succeed or not even be noticed in this crowded market.