Paramount +

ViacomCBS was notably absent from the D2C big bang moment of Q4 2019-Q2 2020. This was primarily due to the challengers of the integration of Viacom and CBS TV network and production businesses following the November 2019 merger of the two distinct entities. While late to the D2C revolution, CBS successfully navigated the mainstream D2C environment in North America via CBS All Access, that launched in 2014. Rebranded as Paramount+ on March 4th 2021, the new service is aggressively targeting an international rollout, relying on the global brand and studio recognition of its Paramount networks, to catch up with the head start held by existing D2C disruptors. Within its first three operational months, the service was live in the US, Canada (following the CBS All Access rebrand), Latin America, the Nordics, parts of Eastern Europe, the Middle East, and Australia (as ten All Access). Following the global reach of Viacom’s TV networks, ViacomCBS sees the global opportunity as one currently neglected by domestic rivals HBO Max andPeacock.

Paramount + ‘s late arrival could end up being the key to its long-term success. With Covid lockdowns pulling many digital late comers into the streaming ecosystem, Paramount+’s line includes four-pillar pay-TV programming: entertainment, factual, sports, and news. Among its D2C disruptor peers, only Peacock currently provides this breadth of content. This effectively positions it as a pay-TV streaming successor for the silver streamers seeking an on-demand pay-TV-like experience. Additionally Paramount+’s ability to deploy a deep library of Paramount films (The Transformers, Top Gun, Snake Eyes, and Scream) and TV content (complete episode catalogue of Star Trek, CSI Miami, Twin Peaks, MacGyver, and Cheers) means that it can go deep as well as broad – crucial for retaining the bingeing 55+ currently adopting video streaming.

Paramount+’s Achilles heel, however, remains the reluctance of ViacomCBS to make Paramount content exclusively available on the streaming service. The desire to continue to license out its IP will inevitably dilute the cornerstone of streaming video success to-date-exclusive originals.