This just in: ViacomCBS is no more.
Birthed in 2019 as CBS and Viacom merged, the multimedia giant will cease to exist starting today. Instead, ViacomCBS will become Paramount as the company focuses on becoming one of the biggest streaming platforms. Also, if we could just put it bluntly, the decision makes sense simply because 'Paramount' rolls off the tongue better compared to, well, 'ViacomCBS'.
As part of the changes, Paramount will also start including Showtime programming as part of a singular bundle later this year. The new integrated offering will come as an in-app upgrade option, as either an ad-supported or ad-free service.
According to ViacomCBS' most recent presentation and earnings announcement, the company is serious about blitzing the streaming market. The company's goal is to hit 100 million streaming subscribers in 2024, which is a significant jump from its previous goal of up to 75 million for the same timeframe.
To put that into context, Amazon Prime Video hasn't even come close to hitting 100 million subscribers despite being around for a few years longer. But, if it's any consolation, Paramount is putting its money where its mouth is by aggressively expanding on an international scale and offering mobile-only subscription options, with plans to make all upcoming Paramount movies exclusive to Paramount Plus in North America by 2024 once their theatrical run ends.
