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Prepare for another shift in your TV streaming experience, as the apps you know are set for a significant transformation.
In a recent conference call held on Monday, which corresponds to today in AEST, David Ellison, the chief executive, announced a major development: Paramount+ and HBO Max will merge into a single platform.
Ellison stated, “We will combine the streaming portfolios of the two companies into one stronger platform over the coming years.” This strategic move aims to enhance the streaming experience by leveraging the strengths of both services.
Currently, the combined reach of these platforms is impressive, with over 200 million direct-to-consumer (DTC) subscribers across more than 100 countries and territories worldwide.
According to their year-end financial reports, Paramount boasts 78.9 million DTC subscribers, while Warner Bros. Discovery has an even larger audience, with 131.6 million subscribers. This merger is poised to create a streaming juggernaut that could redefine the landscape of digital entertainment.
Netflix, which lost out in the bidding war for Warner Bros, reported having 325 million subscribers globally at the end of last year.
Ellison did not suggest a name for the new combined streamer, but it will almost certainly result in another rebrand for WBD’s streamer, which just this past summer rebranded back to HBO Max after spending two years as simply Max.
As part of the merger, Paramount will also acquire CNN, which is currently owned by WBD.
During Monday’s call, Ellison told analysts that Paramount has “no divestitures planned at this time” regarding cable — meaning the company does not plan to sell cable assets.
The newly merged streaming giant will boast some of the most coveted franchises in television history, ranging from The Sopranos and Game of Thrones to recent hits such as Yellowstone.
In a previous statement announcing the merger, Ellison has also pledged to keep the 45-day theatrical window for new films, and he promised the merged studios would put out 30 films a year.
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