Paramount Global Reportedly Discussing Merging Paramount+ With Third-Party Platforms
July 1, 2024
Paramount Global is reportedly in discussions about merging its money-losing subscription streaming service Paramount+ with a third-party platform, including Warner Bros. Discovery’s Max service and NBCUniversal’s Peacock platform.
The talks, according to CNBC, center around consolidating smaller SVOD services in an effort to better compete against industry behemoths Netflix and Disney+.
While Paramount+ increased its revenue 51% year-over-year in the most-recent fiscal period, including reaching more than 71 million global
subscribers, when including Showtime, the platform still generated a $286 million operating loss.
Chris McCarthy, a member of Paramount’s Office of the CEO, previously told company employees in a town hall, that senior management wasn’t opposed to partnering the streamer with a tech company.
Peacock recently partnered with Apple to bundle the platform with Netflix and Apple TV+, the lone SVOD service that remains ad-free. Max and Disney+ will offer a bundled subscription rate this summer.
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