Since Viacom and CBS merged, we’ve been hearing vague mentions of a new service that would combine all of the ViacomCBS assets. Today, during their quarter four earnings call, the company delivered more details about what this new streaming service will look like.
Before the earnings call this morning, this is what ViacomCBS said about the new service. “New broad pay “House of Brands” product will expand CBS All Access by adding the company’s scaled assets in film and TV, including world-renowned brands, and reaffirm and expand the value of entertainment, news and sports – through on-demand and live experiences – for audiences around the world.”
During the call, the company expanded on this statement. This new service will build on the success that the company has had with paid services in CBS All Access and Showtime. The company’s streaming pay subscriptions are now over 11 million and are expected to reach 16 million by the end of the year. The company has also benefitted from the growing popularity of the free streaming service Pluto TV, which reached 22 million active users by the end of Q4. The company expects to exceed 30 million users this year.
While ViacomCBS will remain a free service and Showtime will remain the premium paid service offered by the company, this new service will build on the foundation of CBS All Access. On the call, ViacomCBS noted that it will use the existing “technology, content, and subscriber base” to jumpstart a new, more “robust” service.
The new service will include content from Nickelodeon, Comedy Central, BET, Smithsonian, and Paramount. In total, subscribers will have access to over 30,000 TV episodes and up to 1,000 film titles. The plan will be to add to the news, sports, and entertainment content on CBS All Access – including both live and on demand content.
When it comes to ViacomCBS licensing and distribution deals, the company commented that this service will be designed to “be compatible with the evolving distribution landscape” and to help strengthen relationships with distribution partners.
There will be a soft launch of the new service later this year. No exact dates were given.
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