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Prepare for another shake-up in your TV app lineup.
During a Monday conference call, David Ellison, the chief executive, announced that the Paramount+ and HBO Max apps are set to merge into a single platform. This strategic move aims to consolidate the streaming services offered by both companies, creating a more robust platform in the years ahead.
“We will combine the streaming portfolios of the two companies into one stronger platform over the coming years,” Ellison stated.
Currently, the combined platforms boast over 200 million direct-to-consumer subscribers across more than 100 countries and territories worldwide. Paramount’s end-of-year report revealed it has 78.9 million subscribers, while Warner Bros. Discovery reported 131.6 million subscribers.
Meanwhile, Netflix, which recently lost a bidding war for Warner Bros, reported a global subscriber base of 325 million at the close of last year.
Netflix, which lost out in the bidding war for Warner Bros, reported having 325 million subscribers globally at the end of last year.
Ellison did not suggest a name for the new combined streamer, but it will almost certainly result in another rebrand for WBD’s streamer, which just this past summer rebranded back to HBO Max after spending two years as simply Max.
As part of the merger, Paramount will also acquire CNN, which is currently owned by WBD.
During Monday’s call, Ellison told analysts that Paramount has “no divestitures planned at this time” regarding cable â meaning the company does not plan to sell cable assets.
The newly merged streaming giant will boast some of the most coveted franchises in television history, ranging from The Sopranos and Game of Thrones to recent hits such as Yellowstone.
In a previous statement announcing the merger, Ellison has also pledged to keep the 45-day theatrical window for new films, and he promised the merged studios would put out 30 films a year.
– Reported with CNN
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