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Tag: Bob Bakish

  • Paramount Global get $11 billion buyout offer from Apollo Global

    Paramount Global get $11 billion buyout offer from Apollo Global

    MUMBAI: Even as the dust is settling on the $517 million Viacom18 television stake sale deal between Reliance and US media behemoth Paramount Global, comes the news that the latter itself is the target of a a buyout offer. The Wall Street Journal has reported that private equity firm Apollo Global Management, has made a $11 billion offer to the buy the film and television studio. 

    This is not the first acquisition offer that a reluctant controlling shareholder Shari Redstone has received. Earlier, the David Ellison-controlled production company Skydance Media had  proposed to buy Paramount parent National Amusements and fuse it with his firm as a whole. Skydance had bid in excess of $4 billion for a 70 per cent stake. Ellison’s offer – which plans to keep all the studio  assets but sell off the rest – is still on the table.

    Paramount Global’s assets include Paramount Pictures, broadcaster CBS, Viacom cable networks including MTV as well as PlutoTV. The media conglomerate has a current valuation in excess of $7.7 billion. 

    Earlier this month, Paramount’s chief financial officer Naveen Chopra had dismissed any move towards selling the company at a Morgan Stanley media conference. “From management’s perspective, we are focused on execution. And we believe the continued execution of our plan will unlock value. We’re very conscious of the fact that our job as management is to create value for all of our shareholders…To the extent that there are other alternatives, we’ll be diligent about exploring them,” he had said. 

    The company has been grappling with the changing dynamics of content consumption under CEO Bob Bakish. In its latest quarter overall revenue shaved six per cent year-on-year to $7.64 billion, worse than an expected $7.9 billion. TV media revenue and filmed entertainment revenues respectively fell 12 per cent to $5.17 billion and 31 per cent to $647 million. The saving grace was direct to consumer revenues which rose 34 per cent to $1.87 billion.

    “Our disciplined execution and strong content offering drove our results in 2023, as we continue to evolve our business for profitable growth in 2024 and beyond. In Q4, Paramount+ revenue increased 69 per cent,  direct to consumer adjusted Operating income before depreciation and amortization (OIBDA) improved for the third consecutive quarter, and we now expect to reach domestic Paramount+ profitability in 2025 – a significant milestone,” Bakish had told shareholders at the time of the earnings release. “Looking ahead, we continue to be focused on maximizing the return on our content investments and scaling streaming, while transforming the cost base of our business. And I couldn’t be more thrilled with the early momentum we’ve had across every platform in 2024, demonstrating the power of our strategy and assets.”

  • Warner Bros Discovery and Paramount Global are into talk for merger – Sources

    Warner Bros Discovery and Paramount Global are into talk for merger – Sources

    Mumbai: Us-based International conglomerates Warner Bros Discovery and Paramount global chiefs met on Wednesday, sources told Reuters. Both companies attributed to making international content are planning to collaborate for upcoming potential projects. For that purpose, Warner Bros Discovery CEO David Zaslav met Paramount Global CEO Bob Bakish allegedly on Wednesday.

    Still, it is not clear that Warner Bros may buy Paramount Global or its parent company ‘ National Amusements Inc ‘(NAI) as per sources speak to the news agency Reuters. According to the Axis report talks between both conglomerates are in the initial stage, so talks have not converted yet into a deal. Paramount is under the management of Shari Redstone led media which owns 77 per cent stakes in Paramount class A.

    In April last year, Warmers Media unit and Discovery merged and formed Warner Bros Discovery, a portfolio that included Discovery Channel, Warner Bros. Entertainment CNN, HBO, Cartoon Network streaming services Discovery+, HBO Max, and franchises such as Batman and Harry Potter. Earlier Bloomberg News reported Paramount was in talks to sell its Black Entertainment Television network to a management-led investor group.

    As per the Bloomberg report old media companies struggle with the transition to streaming. Both companies can collaborate to build infrastructure for film studios and TV networks. If these two media merged it could become the largest media house other than Disney.

  • Paramount Q2 revenue up by 19% to $7.7 mn

    Paramount Q2 revenue up by 19% to $7.7 mn

    Mumbai: Media conglomerate Paramount has announced that film and strong direct-to-consumer (DTC) growth has propelled a 19 per cent rise in revenue to $7.7 million in the second quarter. Paramount+ and Pluto TV continue to drive subscriber and user momentum. Total global DTC subscribers rose to nearly 64 million, which reflects the removal of 3.9 million Russia subscribers.

    Paramount+ added 4.9 million subscribers and revenue grew by 120 per cent. It expanded Pluto TV global monthly active users (MAUs) to nearly 70 million. It said that the service has extended its lead as the number one free ad-supported streaming TV service in the US. “Top Gun: Maverick” powered a 126 per cent growth in film. It surpassed “Titanic” to become the biggest Paramount movie of all time in the US. Meanwhile five Paramount Pictures movies debuted at number one at the Box Office in the first half of 2022.

    Paramount president and CEO Bob Bakish said, “Paramount continues to build momentum with the assets, strategy and ability to compete—and win. In Q2, we grew total company revenue by 19 per cent and took market share in streaming, in broadcast TV, in box office and in upfront dollars, all while increasing our penetration of the most important growth market in media—streaming. At the heart of that growth was our hugely popular content—from the cultural phenomenon and #1 movie in the world, Top Gun: Maverick, to the most popular show in the country, Yellowstone. Our deep and growing library of valuable IP, coupled with the strength of our best-in-class assets, ensures we are well-positioned to continue to maximise value for our shareholders.”

    Paramount’s DTC revenue increased 56 per cent year-over-year. Subscription revenue grew 74 per cent  year-over-year to $830 million, principally reflecting paid subscriber growth on Paramount+. The Ad revenue rose 25 per cent year-over-year, reflecting growth from Paramount+ and Pluto TV, driven by increased impressions on both services. The company’s revenue grew 120 per cent. Adjusted OIBDA (operating income before depreciation and amortisation) decreased $302 million year-over-year, reflecting increased investment in our DTC services.

    TV Media revenue rose by one per cent year-over-year, reflecting growth in content licensing revenues, partially offset by lower advertising and affiliate revenues. Ad revenue decreased by six per cent year-over-year, as pricing only partially offset the impact of lower linear impressions and FX. Affiliate and subscription revenue declined by three per cent year-over-year, driven by lower revenues in international markets, where the company restructured key affiliate agreements, resulting in a shift of revenue from pay television services to DTC services. Licensing and other revenues grew 27 per cent year-over-year. Adjusted Oibda decreased by eight per cent year-over-year, primarily driven by the lower ad and affiliate revenues.

    In the film segment revenue as mentioned earlier grew by 126 per cent year-over-year, led by the strong performance of current quarter theatrical releases. Theatrical revenue increased by $630 million primarily driven by the releases of “Top Gun: Maverick” and “Sonic the Hedgehog 2” in the quarter. Licensing and other revenue grew by 27 per cent year-over-year, primarily driven by the monetisation of recent theatrical releases. Adjusted OIBDA increased by $129 million in the quarter, reflecting the strong performance of current year releases.

  • Pamela Kaufman replaces Raffaele Annecchino to lead Paramount Global’s international business

    Pamela Kaufman replaces Raffaele Annecchino to lead Paramount Global’s international business

    Mumbai: Pamela Kaufman has been appointed as Paramount Global’s new president and CEO of international markets, global consumer products, and experiences. Prior to joining this position, Kaufman was the president of global consumer products and experiences.

    This newly created position reports to Paramount president and CEO Bob Bakish. The company said that this move reflects its ongoing strategy of globalising its operations. has decided to leave the company in his role as

    Former Paramount International Networks, Studios, and Streaming president and CEO Raffaele Annecchino, who, according to the studio, has “decided to leave the company,” was suddenly put on leave last month. At the time, no more information concerning his departure was made public.

    In her expanded role, Kaufman will be responsible for driving the continued growth of Paramount’s international business and ensuring the strength of the company’s international operations across six continents, including broadcast and cable networks, streaming and studios, and the company’s commercial capabilities. She will work closely with Paramount’s international leadership team, as well as the global content and streaming organisation, to do so, including helping to guide the continued international rollout of Paramount+ and Pluto TV. Kaufman will maintain her current responsibilities overseeing the global multi-billion-dollar consumer products and experiences organisation.

    “Pam has been the strategic force behind growing and expanding some of the most iconic global franchises and properties in entertainment,” Bakish said in a statement. “She is a proven and trusted visionary leader who has transformed our consumer products organisation by driving innovation and operating as a global business. Pam is uniquely qualified to lead our international business as we expand and diversify our worldwide footprint and accelerate Paramount’s transformation to operate with a truly global approach.”

    Bakish added, “I want to extend my thanks to Raffaele Annecchino for the critical role he has played in building Paramount’s international business and expanding our global footprint. I am grateful for the dedication he has shown throughout his 25 years at Paramount and wish him well in the future.”

    Speaking on joining her new role, Kaufman said, “I am honoured to take on this role at such a pivotal time for Paramount’s international business. I know firsthand the global strength of our brand portfolio, and I look forward to working with Bob and the incredible international team as we continue pursuing our global growth strategy, investing in key partnerships, furthering our push into mobile and digital platforms in new markets, and operating as one team globally.”

    In November 2021, Kaufman assumed the role of Paramount president, global consumer products and experiences, overseeing worldwide product and business development, marketing, franchise planning, creative strategy, retail sales, and consumer insights for all brands in the portfolio. In less than a year, Kaufman has led the transformation of the consumer products business, unifying the organisation by placing the full power of the Paramount ecosystem behind its most valuable IP. Her commitment to transformation, innovation, and brand building has led to some of the most groundbreaking partnerships in the company’s history, including cutting-edge co-branded collaborations with the biggest names in social media.

    Kaufman was also responsible for Viacom’s first direct-to-consumer e-commerce site in 2019 – The SpongeBob Shop – and has since led the expansion of additional online direct-to-consumer businesses for merchandise tied to various top CBS and Showtime programming, including similar standalone initiatives for brands such as Star Trek, South Park, and MTV.

    Prior to that role, she served as Nickelodeon’s president of consumer products and CMO. She was responsible for building Nickelodeon’s franchises, ranging from PAW Patrol to SpongeBob SquarePants, shepherding them through important tentpole campaigns and milestone celebrations.

    Before joining Nickelodeon back in 1997, Kaufman held positions at Turner International, Equity Marketing, and Grey Advertising.

  • India is a fundamentally attractive market; has a tremendous future: Paramount global president and Ceo Bob Bakish

    India is a fundamentally attractive market; has a tremendous future: Paramount global president and Ceo Bob Bakish

    MUMBAI: Paramount Global President and CEO Bob Bakish is positive about the Indian market and expects that Viacom18 has a potential future here. The company has a stake in Viacom18 along with majority owner Reliance Industries (RIL) and new entrant Bodhi Tree Systems. Among other things, he noted that India will be incremental in Paramount+’s subscriber guidance of 100 million.

    In a conference call to announce the first-quarter results, he said, “India is a fundamentally attractive market. It’s a market that’s already at scale and has a tremendous future ahead of it in the context of media. As I think you know, since its inception, Viacom18 has been a significant player in the market. And the recent agreement with Bodhi Tree, we look at that as a compelling way to drive the next level of growth. And obviously, they’re going to make a significant capital infusion into the business.”

    He highlighted three things about the country. “The first thing is, we like Viacom18. It’s the model we like. It has broad reach television networks, including the market-leading colors brand, combined with a film business, hindi film business, it’s both national and regional, and of course has streaming assets as well, all underpinned by a strong local content engine. So, that’s the model we like in general,” he added.

    “Second thing is, our core partner there is Reliance. That’s arguably the most powerful company in India. And they also own the telecom market leader, Jio. So, we think that’s great. And as I said, now, Viacom18 is set up to be an even bigger player in the market, including in streaming. So, we look at that as a great opportunity for Paramount+. As we said — as I said in my remarks, we’re going to enter in 2023 in — and we’re going to do so in a very capital efficient, hard bundle way. And so, we think that’s a great route into that market. And I would also note that India will be incremental to our 100 million sub guidance. It’s early days. So, we’re still at the point of deciding what we want to put out there. But it’s incremental to our guide,” Bakish added.

    But when asked about the IPL rights coming up he clarified that there is no plan to put cricket on Paramount+. “But remember what I said. It’s a hard bundle strategy, which means Paramount+ will travel with other assets. And therefore, we believe there’s a real opportunity to benefit from cricket without having to pay for it on Paramount+. So, that assumes of course that the asset ends up in a certain place. But that’s the answer for India. Again, we’re tremendously excited about that market, about our partner, Reliance, about Bodhi Tree coming in and benefiting from a leadership position therein,” he added.

    Last month RIL and Viacom18 announced a strategic partnership with Bodhi Tree Systems. Bodhi Tree is a joint venture between James Murdoch’s Lupa Systems and media and entertainment industry veteran Uday Shankar. As a result of the move, Paramount Global had reduced its stake in Viacom18.

  • ViacomCBS rebrands to Paramount; unveils global expansion plans for Paramount+

    ViacomCBS rebrands to Paramount; unveils global expansion plans for Paramount+

    Mumbai: ViacomCBS has announced that it will rebrand to become Paramount Global effective from 16 February.

    In addition to the name change, the media company has detailed plans to accelerate the global momentum behind Paramount+, unveiling new content, enhanced product offerings and continued international expansion at its investor event.

    “Paramount is an idea: A promise to be the best,” said the non-executive chair of the company’s board of directors Shari Redstone. “That promise has always been at the center of what we aspired to build as the steward of more than a century of cinematic excellence, and with businesses and brands that have defined and redefined entertainment for generation after generation. We have made enormous progress, and I have never been more excited about the future of this company.

     

     

    Paramount+ will make its debut in France as an exclusive bundle with CANAL+ Group giving subscribers immediate access through the country’s largest provider. Paramount+ will also be available on an a la carte and direct-to-consumer basis in the French market.

    With Paramount+ and SkyShowtime, the global media company will have streaming services available in more than 60 markets across the UK, Latin America, Canada, Australia, South Korea, the Caribbean and all major markets in Europe by the end of this year. In 2023, the company will look to Asia, Africa and the Middle East, building on Paramount+’s strong momentum to grow its presence in every region of the world.

    Additionally, Paramount+ subscribers in the US will be able to upgrade their subscription to a bundle that includes the Showtime service through two plans, starting in summer.

    The company added 9.4 million global streaming subscribers in the fourth quarter of 2021 led by Paramount+ to add up to 56 million total subscribers and 84 per cent growth in streaming subscription revenue. Its streaming revenues for the quarter stood at $1.3 billion a growth of 48 per cent year-on-year. Its streaming revenue for 12 months ended on 31 December 2021 stood at $4.19 billion.

    “Paramount’s iconic peak represents a rich history for our company as pioneers in the golden age of Hollywood. Today, as we embrace the Paramount name, we are pioneers of an exciting new future,” said president and chief executive officer Bob Bakish.

    “We see a huge global opportunity in streaming, a much larger potential market than can be captured by linear TV and film alone,” continued Bakish. “We’re excited about our ability to not just compete, but thrive, creating significant value for both consumers and shareholders. How? Because we’re broader in four key areas: our diverse content, streaming model, a mix of platforms and global reach. As we look forward, the size of the opportunity we see is matched only by our ambition to seize it.”

    “We are continuing to leverage our global footprint and long-standing relationships to expand Paramount+ into new markets with enormous potential quickly and economically,” commented president and CEO streaming Tom Ryan.

  • Bob Bakish, ViacomCBS and the streaming war

    New Delhi: Over the last few weeks, a spate of mergers and acquisitions has taken the media and entertainment industry by storm. First WarnerMedia and Discovery, then Amazon and MGM – as the streaming war intensifies, US media giant ViacomCBS is also gearing up for a tough race, building one of the largest and diversified content slates.

    “We have what it takes to succeed in streaming. We spend about $15 billion a year on content, which makes us one of the largest producers of content on the planet. And all of that increasingly feeds our streaming ecosystem,” said ViacomCBS president and CEO, Bob Bakish at the first inaugural TMT Conference held virtually on Monday.

    The short and stocky Bakish said that ViacomCBS is in a good place in the streaming space. Free advertising-supported streaming television (FAST) service Pluto is on course to cross a billion dollars in revenue in 2021, despite all the scoffing from critics, who said he was putting $340 million into a lousy investment two years ago, as it had just 12 million monthly actives and $70 million in revenues then. Today, it has more than 50 million monthly actives and is present in more than 25 markets in the US, and is expected to roll out in more cities and states soon, and internationally thereafter.

    Of course, its Paramount+ (earlier called CBS All Access) premium service added six million new streaming subscribers in the first quarter of 2021, reaching a total of 36 million global streaming subscribers. While Pluto and Paramount+ delivered streaming revenue growth of 65 per cent year-over-year, the company expects the income uptick to accelerate in the second quarter, based on its differentiated strategy and tremendous momentum.

    Bakish is also quite sanguine that the recently launched Paramount+ Essential plan priced at $4.99 (which will show ads to viewers) will help expand its user base as well as give a leg up to advertising revenues going forward. Said he: “..given what we know about elasticity, we feel this lower price point of $4.99 will broaden the addressable market for Paramount+. …it also offers us another opportunity to serve the rapidly growing premium digital ad market… as we look at this product and the dynamics of the ad market, we actually believe analytically that the $4.99 version can generate higher average revenue per user (ARPU) over time than our $9.99 product. So we think that’s tremendously compelling because it – again, it broadens the consumer base and it drives higher ARPU.”

    Streaming is still an early stage media business in general and certainly for ViacomCBS and the company’s strategy is to focus on usage, then revenue. “Right now, we’re building the base”, he said. “The ad growth has increased in the last three quarters and expect another quarter of strong double-digit ad growth in Q2 largely because the demand continues to improve and scatter pricing is really at all-time highs.”

    A proven hit-maker when it comes to content across formats and genres, ViacomCBS has been investing heavily in content. Its content production capability is driving the rapidly growing slate of exclusive originals on Paramount+.

    “We have talked about these numbers even before our capital raise, 36 original series this year, going over 50 next year, a large volume of movies, particularly in ‘22. And its content at that level of quality and scale is ultimately what drives success in streaming. It is an extremely scarce and valuable asset and it is the core of what ViacomCBS is,” averred Bakish.

    ViacomCBS is driving significant subscribers and increasing engagement, but it is also seeing churn come down and the average age comes down materially, according to Bakish. All of those metrics have improved since our Paramount+ launch, he added.

    Sports continue to be an important part of its strategy, which includes the NFL, the SEC on the football side, golf, UEFA, women’s soccer on the European football side. Most recently, it added some incremental international soccer rights. “We just had Paramount+ the UEFA 2021 Champions League Final. It was the most streamed non-NFL sporting event ever for us,” he added.

    Amid the increasing transformation from the linear to the digital side, Bakish said, all of its cable brands have exclusive originals in linear, including events, which supports the value proposition. “We closed multiple deals, including with Comcast, with Verizon, with YouTube, with Hulu. None of these are walk-in-the-park companies,” he added.

    With an incredible slate coming, and many more originals and films ramp up, the entertainment giant is expecting streaming revenue growth to accelerate in Q2 relative to what was posted in Q1 to compete with the likes of Netflix and Disney+ in the streaming arena. A part of its ambitious plan is to make Paramount+ available in 45 markets by the end of 2022 and have up to 75 million streaming subscribers globally by 2024. 

    “And in addition to the general market, we are seeing the benefit of truly going to market as a combined company. And that creates a real advantage for us because we have the scale and reach both in high-quality, brand-safe, digital environments and in the linear side. And in addition to that, we have these must-have offerings, the NFL, Primetime, Late Night, tentpoles, diverse audiences. So the ad market is looking very good to us. Our company is connecting with it. Our IQ product is a big part of our strategy, and that combines all our high-quality digital. We’re seeing tremendous growth there,” said the ViacomCBS president.

  • ViacomCBS adds 6 million global subscribers to reach 36 million mark

    ViacomCBS adds 6 million global subscribers to reach 36 million mark

    New Delhi: ViacomCBS added six million new streaming subscribers in the first quarter of 2021, reaching a total of 36 million global streaming subscribers said the company on Friday, while reporting financial results for the quarter ended 31 March.

    The entertainment giant delivered 69 per cent year-over-year growth in streaming subscription revenue, largely driven by the significant momentum of Paramount+. The year-over-year growth in streaming advertising revenue was 62 per cent, reflecting the continued domestic growth and international expansion of advertising supported streaming service Pluto TV.

    ViacomCBS’ cable networks unit also grew quarterly revenue 14 per cent to $3.26 billion.

    “In Q1, we accelerated our expansion in streaming with the launch of Paramount+ further enhancing ViacomCBS’ ecosystem of premium, pay and free services. The strong consumer response we have seen is evident in today’s numbers. In addition, we now have almost 50 million global Pluto TV MAUs,” said president and CEO Bob Bakish.

    On Paramount+, the biggest drivers of sign-ups were live sports and specials, including the Super Bowl, NCAA Tournament, UEFA Champions League, Oprah with Meghan and Harry and The Grammy Awards, as well as kids’ content, and original programming, including The Stand and Star Trek: Discovery. Globally, Nickelodeon programming was a significant driver of sign-ups and engagement on Paramount+.

    Showtime OTT delivered its best quarter ever in signups, streams and hours watched, driven by originals, including Your Honor and Shameless, as well as theatricals, said the company.

    “Our early momentum in streaming is a testament to the breadth and relevance of our differentiated offerings, as well as our opportunities for growth through Paramount+, as we continue to ramp the availability of live sports, original series and blockbuster movies over the course of the year. ViacomCBS also achieved another strong quarter of results in our advertising and affiliate businesses, which continue to demonstrate the extraordinary power of our company to reach audiences and deliver for our partners globally,” added Bakish.

    Paramount+ will be available in 45 markets by the end of 2022, said the company, which expects to have up to 75 million streaming subscribers globally by 2024. Management has ambitious plans to compete with the likes of Netflix and Disney+ in the streaming arena, and to direct billions of dollars into content investment for its services in the coming years.

  • Raffaele Annecchino is new ViacomCBS president & CEO

    Raffaele Annecchino is new ViacomCBS president & CEO

    MUMBAI: ViacomCBS has appointed Raffaele Annecchino as ViacomCBS Networks International (VCNI) president and CEO, with immediate effect. He succeeds David Lynn, who is stepping down and will depart the company following a transition period.

    In his new position, Annecchino will handle all of ViacomCBS’s media networks and related businesses outside the US. He will also be responsible for a portfolio of pay-TV entertainment brands and broadcast networks across six continents – including Channel 5 in the UK, Telefe in Argentina, Network 10 in Australia and Colors in India through a joint venture with Viacom18 – and work closely with ViacomCBS’s global streaming organisation to manage the rollout of Pluto TV and the launch of Paramount+ in 2021. Annecchino will report to ViacomCBS president & CEO Bob Bakish.

     “Annecchino is an entrepreneurial, results-oriented leader with a proven ability to transform businesses and drive growth across diverse markets,” said Bakish. “In recent years, Annecchino has taken on increased responsibility, demonstrating strategic and operational expertise that extends across a wide variety of geographies and platforms. His experience in expanding ViacomCBS’s international footprint, forging key partnerships and accelerating our push into mobile and digital platforms will be critical to building on our leadership positions across Europe, Latin America and Asia and realising our global ambitions.”

    On Lynn’s departure, Bakish added, “I want to extend my deepest thanks to David for his many contributions over the past two decades, from integrating the international portfolios of CBS and Viacom to overseeing the launch of Viacom International Studios, including the acquisition of Ananey and repositioning the division to enable the continued expansion of our global streaming offerings. I’m grateful for his dedication and leadership and wish him the best as he starts this next chapter.”

    “It’s an honour to step into this role and help continue ViacomCBS’s strong momentum around the world,” said Annecchino. “We have an exciting opportunity to broaden the company’s reach through new, innovative distribution channels and partnerships, and I look forward to working with Bob and the rest of the team to execute against our growth initiatives.”

    During his 23-year tenure, Annecchino has held a number of positions across VCNI. Until now, he served as president of ViacomCBS Networks Europe, Middle East, Africa and Asia (EMEAA), during which time he oversaw operations across a range of markets and led and coordinated VCNI’s mobile strategy globally.

    Prior to joining MTV Networks International in 1997, Annecchino worked at Turner International, Cartoon Network and CNN. 

  • ViacomCBS to rebrand CBS All Access to Paramount + for early 2021 launch

    ViacomCBS to rebrand CBS All Access to Paramount + for early 2021 launch

    MUMBAI: Paramount+ is the brand name of the new global streaming service that ViacomCBS will be rolling out in Australia, Latin America and the Nordics in early 2021. This was revealed by the company’s president & CEO Bob Bakish who had announced in June 2020 that its subscription video on demand CBS All Access will be rebooted and relaunched with additional premium programming.  

    Said Bakish: “Paramount is an iconic and storied brand beloved by consumers all over the world, and it is synonymous with quality, integrity and world-class storytelling. With Paramount+, we’re excited to establish one global streaming brand in the broad-pay segment that will draw on the sheer breadth and depth of the ViacomCBS portfolio to offer an extraordinary collection of content for everyone to enjoy.”

    Read more news on Paramount 

    Bakish also announced a slate of fresh shows and series which would be available to subscribers of Paramount+:

    .  The  Offer, a scripted limited event series from Paramount Television Studios, based on Oscar-winning producer Al Ruddy’s extraordinary, never-revealed experiences of making The Godfather. The 10-episode event series is written and executive produced by Michael Tolkin (Escape at Dannemora and The Player). Ruddy will also serve as executive producer, and Emmy-winning producer Leslie Greif (Hatfields & McCoys) will executive produce and be a writer on the series.

    .  Lioness, a spy drama created by Taylor Sheridan (Yellowstone) with Sheridan, Jill Wagner, David Glasser, David Hutkin, and Bob Yari set to executive produce. Based on a real-life CIA program, Lioness follows a young Marine recruited to befriend the daughter of a terrorist to bring the organization down from within. The series is produced by Paramount Network and 101 Studios.

    Read more news on ViacomCBS

    .  A reimagination of the Emmy®-nominated series Behind the Music entitled MTV’s Behind The Music – The Top 40, which will unlock MTV’s vault from the past 40 years for a unique and intimate look at the 40 biggest artists of all time, through their voices and their eyes. The series will be produced by Creature Films and MTV Studios.

    .  The Real Criminal Minds, a true crime docuseries based on the hit CBS Television series, and produced by XG Productions in association with CBS Television Studios and ABC Signature.

    .  The service is also developing a revival of The Game  as part of BET’s programming on Paramount +  from CBS Television Studios and Grammnet Productions.

    The new original series announced today join the service’s previously announced plans for Kamp Koral, a new original children’s series from Nickelodeon’s SpongeBob Squarepants, and the service’s role as the exclusive SVOD home to The SpongeBob Movie: Sponge on the Run in early 2021. Additional new original content will be announced ahead of launch.

    This programming will join  CBS All Access’  robust existing offering of more than 20,000 episodes and movies from BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and more, as well as exclusive original series including  The Good Fight, The Twilight Zone, Tooning out on The News, No Activity, Why Women Kill, Interrogation, The Thomas John Experience, and Tell Me A Story, The Stand, The Man Who Fell to Earth,, The Harper House, Guilty Party, Star Trek: Discovery Star Trek: Picard, animated series Star Trek: Lower Decks, Star Trek: Strange New World.

    Since the transformation of  CBS All Access  began in late July, the service has experienced significant growth and engagement. With the addition of a diverse mix of content, including UEFA, Big Brother Live Feeds, star Trek: Lower Decks, and more than 3,500 episodes from across ViacomCBS’ brands, the service broke a new record for total monthly streams in August and experienced one of its best months ever in terms of new subscriber sign-ups. In addition, the average age of new subscribers in August was measurably younger than the service’s overall average subscriber age, due in large part to the addition of UEFA and the newly added content from various ViacomCBS brands.

    Leading up to the early 2021 rebrand to Paramount + ,  CBS All Access  will expand its content offering to more than 30,000 episodes and movies and continue to develop additional original series across brands including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and more, transforming it into a diversified super service for the ViacomCBS portfolio.

    “The response from consumers in just the early weeks of the service’s expansion already illustrates the tremendous opportunity ahead of us in bringing these phenomenal ViacomCBS brands together in one premium streaming home under the new Paramount +  name,” said ViacomCBS chief digital officer & ViacomCBS Digital CEO Marc DeBevoise. “With the addition of even more content from across the portfolio as well as the new exclusive originals we are announcing today, we look forward to the early 2021 rebrand and bringing existing and new subscribers more of the compelling, genre-spanning live sports, breaking news and mountain of entertainment ViacomCBS has to offer.”

    Earlier this month ViacomCBS Networks International (VCNI) president & CEO David Lynn had said that the super streamer would not be launched in India as it already has successful streaming operations in Voot and Voot Select in partnership with Viacom18 and Reliance.