Two media giants, CBS and Viacom, announced their plans to join to become a single company called ViacomCBS, with the main objective of offering a broader package of content that competes with the most popular streaming platforms, as well as to make original high quality productions.
Although the companies broke up in 2006, this is a long-awaited merger. The combined content catalog of ViacomCBS includes more than 140,000 television episodes and 3,600 movies, under popular brands that include MTV, Showtime, Paramount Pictures, Nickelodeon, Comedy Central, BET, The CW and of course CBS.
Through the passion shared by CBS and Viacom for premium content and innovation, we are establishing a first-class multiplatform media organization, well positioned to grow in an industry that is rapidly transforming, the director of the press said in a press release CBS and Viacom agreement, Shari Redstone.
Headed by a talented team of leaders who are excited for the future, the success of ViacomCBS is grounded on a commitment to solid values and a culture that empowers our exceptional people at all levels of the organization, he added.
In the statement, the companies say the merger will allow them to accelerate the strategy directly to the consumer. In addition to content licensing, CBS and Viacom are developing a program for a wide range of third-party networks and platforms to meet the significant demand for original premium content.
Currently, the subscription options include CBS All Access and Showtime, and streaming alternatives include PlutoTV, a platform that offers 100 channels and thousands of movies and TV shows, and unlike competitors such as Netflix, Hulu or Sling TV, It is completely free.
It joins other large-scale media mergers, such as the acquisition of Time Warner by AT&T and the acquisition of Fox by Disney. However, many critics point out that these agreements are a way to prepare for a future in which streaming services will dominate the market and surpass cable.
If ViacomCBS focuses its energy on streaming, it will mean that some of your favorite shows like Shameless(Showtime),NCIS(CBS),Broad city (Comedy Central), Dexter(Showtime),Riverdale(The CW),Supernatural(The CW),South Park(Comedy Central) and others may leave Netflix and Hulu to be only available on the ViacomCBS streaming platform.
However, ViacomCBS will not only face these two platforms, but also with Amazon Prime and Disney +, Disney's new streaming service that will begin operating on autumn. We will keep you informed with the development of this platform and the news in its space.