Bob Bakish, president and CEO of ViacomCBS Inc., center-left, and Shari Redstone, president of VicaomCBS Inc., applaud during the inauguration of the company’s merger celebration at the Nasdaq MarketSite in New York, USA, on Thursday. December 5, 2019.
Michael Nagle | Bloomberg | Getty Images
ViacomCBS said Tuesday it will launch its Paramount + streaming service on March 4th.
Paramount + will enter the streaming wars at an increasingly crowded time. It will join rivals like Disney’s Hulu and Disney +, NBCUniversal’s Peacock and WarnerMedia’s HBO Max as traditional media companies accept streaming.
The company’s shares fell more than 1% in the premarket.
The company’s current broadcast service, CBS All Access, costs $ 5.99 a month with advertising and $ 9.99 a month without advertising, although all live programming includes commercials. Earlier, the company’s digital director, Marc DeBevoise, told CNBC that prices will not change. A spokesman said we can expect to know more about prices on February 24th.
Paramount + will feature new content, as well as CBS All Access’s existing offering of more than 20,000 episodes and movies from MTV, Nickelodeon, Comedy Central, BET, Paramount Pictures, CBS, original series and more.
The company said Paramount + will debut in Latin America on March 4, the Nordics on March 25 and Australia in mid-2021. ViacomCBS will have to report fourth-quarter earnings on February 24, where it is expected to offer an overview general of its transmission strategy.
Disclosure: NBCUniversal is the parent company of CNBC.