What Could Paramount’s Packaging Talks Mean for You?

Published: September 4, 2024

What Could Paramount’s Packaging Talks Mean for You?

By Movieguide® Contributor

Paramount+ is exploring new ways to make money as it prepares for its merger with Skydance.

According to Deadline, the merger between Paramount and Skydance is confirmed to take place in the first half of 2025.

“After extensively researching actionable opportunities for Paramount for approximately eight months, our Special Committee continues to believe that the transaction we have agreed to with Skydance provides immediate value and has the potential to continue to create value in a rapidly evolving industry environment.” in question Charles E. Phillips, Jr., Chairman of the Paramount Global Special Committee

Now Paramount is looking for new ways to cut costs and is “exploring a wide range of strategic options for the organization” — most notably the possibility of teaming up with other broadcasters.

“We think Paramount+ has a lot to gain by choosing to go into partnership and leaving behind the costly work of doing it alone,” said MoffettNathanson analyst Robert Fishman. wrote He added that Paramount should be making a “real consumer-friendly mix in one app” for its customers, rather than “synthetic” bundles like the Disney+ and Hulu partnership.

An unnamed former senior media executive who previously ran a streaming service It has been said Deadline wrote, “Some sort of unified offering to appease disillusioned consumers would be like cable TV at its peak. It would be great if we could recreate that. Today, the only thing that comes close is Netflix. What the rest of the industry needs to think about is, can we do something together?”

DirecTV Chief Content Officer Rob Thun hopes to be a part of these new developments in broadcasting.

“We believe we have a role to play,” he said. in question From conversations surrounding streaming aggregation. “We call it super aggregation. We already aggregate linearly, and we can do more in digital.”

Another way Paramount is cutting costs is by shutting down its TV division.

“Paramount Global co-CEO George Cheeks wrote to staff in a memo that the decision to close the studio was based not on its performance but on ‘the result of significant changes in the TV and streaming marketplace and the need to make our company more efficient,'” the New York Post reported. It was reported.

Existing TV series and projects in development will be transferred to CBS Studios, Paramount’s sister production unit.

Movieguide® previously It was reported On Paramount shutting down its TV division:

Paramount Global will close its TV series division, Paramount Television Studios, as part of efforts to cut costs by $2 billion.

“This has been a challenging and transformative time for the entire industry, and unfortunately our studio is not immune.” in question The studio “overcame seemingly insurmountable obstacles through a combination of strength, determination and unwavering commitment,” said Nicole Clemens, president of the division.

“We have overcome these challenges with incredible resilience, creativity and passion for what we do, and I am so proud of our team. We have also had the privilege of collaborating with some of the brightest creative talent in the industry to help tell incredible stories seen around the world, entertaining and shaping culture,” he continued.

Company laid off Approximately 800 staff will be hired in February and all ongoing projects will be moved to CBS Studios.