Bob Bakish, president and chief executive officer of ViacomCBS Inc., center left, and Shari Redstone, president of VicaomCBS Inc., applaud the opening bell in celebration of the company’s merger at Nasdaq MarketSite in New York, USA, on Thursday . December 5, 2019.
Michael Nagle | Bloomberg | Getty Images
ViacomCBS said on Tuesday that it will launch its Paramount + streaming service on March 4.
Paramount + will enter the streaming wars at an increasingly busy time. It will join rivals like Disney’s Hulu and Disney +, NBCUniversal’s Peacock, and WarnerMedia’s HBO Max as traditional media companies embrace streaming.
The company’s stock fell by more than 1% in the premarket.
The company’s current streaming service, CBS All Access, costs $ 5.99 per month with ads and $ 9.99 per month without, although all live shows include commercials. Earlier, the company’s chief digital officer Marc DeBevoise told CNBC that prices will not change. A spokesman said we can expect more on prices on Feb. 24.
Paramount + offers new content, as well as CBS All Access’s existing offering of over 20,000 episodes and movies from MTV, Nickelodeon, Comedy Central, BET, Paramount Pictures, CBS, original series, and more.
The company said Paramount + will debut in Latin America on March 4, the Nordic countries on March 25, and in Australia in mid-2021. ViacomCBS will report fourth quarter earnings on February 24, where it is expected to provide an overview of its streaming strategy.
Disclosure: NBCUniversal is CNBC’s parent company.