NEW YORK, Feb. 15, 2022 /PRNewswire/ -- ViacomCBS today
announced that the global media company will become Paramount
Global (referred to as "Paramount"), effective February 16, bringing together its leading
portfolio of premium entertainment properties under a new parent
company name.
"Paramount is an idea: A promise to be the best," said
Shari Redstone, Non-Executive Chair
of the company's Board of Directors. "That promise has always been
at the center of what we aspired to build as the steward of more
than a century of cinematic excellence, and with businesses and
brands that have defined and redefined entertainment for generation
after generation. We have made enormous progress, and I have never
been more excited about the future of this company."
"Paramount's iconic peak represents a rich history for our
company as pioneers in the Golden Age of Hollywood. Today, as we embrace the Paramount
name, we are pioneers of an exciting new future," said Bob Bakish, President and Chief Executive
Officer.
The company's shares will trade on the Nasdaq stock exchange as
PARAA (Class A common), PARA (Class B common) and PARAP (Preferred
Stock), beginning with trading on February
17, 2022, at 9:30 a.m. ET.
In addition to the name change, the company detailed plans to
accelerate the global momentum behind Paramount+, unveiling new
content, enhanced product offerings and continued international
expansion at its investor event.
"We see a huge global opportunity in streaming, a much larger
potential market than can be captured by linear TV and film alone,"
continued Bakish. "We're excited about our ability to not just
compete, but thrive, creating significant value for both consumers
and shareholders. How? Because we're broader in four key areas: our
diverse content, streaming model, mix of platforms and global
reach. As we look forward, the size of the opportunity we see is
matched only by our ambition to seize it."
***
BROAD CONTENT OFFERING
Today's event demonstrated the global power of fan-favorite IP
with an expansive slate of exciting programming announcements.
Paramount+ will continue to deliver the most diverse content
offering in streaming across every genre at scale, including
beloved franchise extensions and all-new buzzworthy originals
spanning must-see movies, scripted dramas, unscripted reality TV,
comedy, kids and family, sports, news, specials and events to
super-serve the entire household.
"On Paramount+, we have something for everyone," said Tanya
Giles, Chief Programming Officer, Streaming. "We are taking
our broad content offering and deepening it with more content in
key categories, building on our treasure trove of IP to create
lasting, hit franchises."
Movies, Kids and Family
The best of the big screen keeps coming to Paramount+. The
company announced that starting with 2024 film releases,
Paramount+ will become the streaming home for all new Paramount
Pictures movies in the U.S. following their theatrical
runs.
New blockbuster franchise expansions also unveiled today
include:
- A QUIET PLACE – A Quiet Place Part III from
John Krasinski, is confirmed for
theatrical debut in 2025. As previously announced, the next
installment of A Quiet Place from director
Michael Sarnoski, based on an
original idea from Krasinski, is set for release on September 22, 2023.
- SONIC THE HEDGEHOG – the first-ever original
live-action Sonic series, featuring the
character Knuckles, voiced by Idris
Elba, is in development to debut on
Paramount+, setting up the third film installment in the
flagship franchise.
- SPONGEBOB SQUAREPANTS UNIVERSE – a further expansion
of the SpongeBob universe is coming exclusively to
Paramount+ with three brand-new movies based on the show's
original characters, with the first dropping in 2023. In addition,
a fourth SpongeBob release from Nickelodeon Animation is
currently in development for theatrical release.
- STAR TREK – the next theatrical film, with
Matt Shakman directing and J.J.
Abrams producing, will feature the original cast and new
characters.
- TEEN WOLF – the first-ever original production from MTV
Entertainment Studios and MGM's Orion Television, Paramount+ will
reunite the original Teen Wolf cast for an exclusive
full-length movie. Tyler Posey,
Holland Roden, Shelley Hennig and
Crystal Reed are set to reprise
their iconic roles alongside Orny Adams, Linden Ashby, JR Bourne,
Seth Gilliam, Colton Haynes, Ryan
Kelley, Melissa Ponzio and
Dylan Sprayberry. Additional names
to be announced.
- TEENAGE MUTANT NINJA TURTLES – a new era of TMNT-mania
takes over in 2023 with a new animated take on the Turtles coming
to theaters, produced by Point Grey Pictures' Seth Rogen and Evan
Goldberg and directed by Jeff
Rowe. Nickelodeon Animation will fast follow that film
with a series of exclusive movies for Paramount+ beginning in 2023,
each centering on one of the property's storied villains in
never-before-told tales.
- TRANSFORMERS – the next chapter begins with
Transformers: Rise of the Beasts in 2023, where
director Steven Caple Jr. and star
Anthony Ramos, will lead the
first of three film installments of the iconic Hasbro
property. Additionally, the previously announced Untitled
Animated Transformers film, a Paramount/eOne
co-production with Josh Cooley
attached to direct, will debut in theaters on July 19, 2024.
Other Kids and Family content announcements included updates to
animated preschool favorites:
- Blue's Big City Adventure – the
now-announced animation/live-action hybrid title to this brand-new
Blue's Clues & You! movie from Nickelodeon
Animation is set to premiere later this year and follows host Josh
and Blue as they head to New York
City, with the help of Steve and Joe, to audition for a big
Broadway musical.
- Dora the Explorer – the preschool return of the
groundbreaking Latina heroine in an all-new CG-animated series
produced by Nickelodeon Animation, and featuring the beloved
characters, plus key modernization to the storytelling, debuts in
2023.
Additionally, an update in Kids and Family live-action
programming included:
- Dora the Explorer – in addition to
the character's animated preschool return, now in development from
Nickelodeon is the first-ever live-action Dora the
Explorer series, inspired by the tone of Paramount
Pictures' 2019 Dora and the Lost City of Gold
theatrical release, with this new version for Paramount+ targeting
the tween demo.
Adult Animation and Global Unscripted
Paramount+ doubles down on adult animation with new takes and
news on two of the most successful and well-known IP in the history
of the genre:
- BEAVIS AND BUTT-HEAD – the duo is back and stupider than
ever in an all-new series premiering across Paramount+
globally. Alongside this fresh take, the full 200+ episode
Beavis and Butt-Head library and previously
announced new film, Beavis and Butt-Head do the
Universe, will also arrive on the service.
- SOUTH PARK – the TV series will arrive on Paramount+
internationally as the exclusive SVOD home later this year with
over 300 episodes. Additionally, South Park will
begin rolling out on Paramount+ globally as the new exclusive
SVOD home starting with Season 27 in 2024, and the full
library is headed to Paramount+ U.S. in 2025.
A fresh slate of global unscripted series, expanding
industry-defining franchises, include:
- All Star Shore – a competition docu-series
that will feature 14 of reality TV's most iconic stars from around
the world and television's biggest series – including Jersey
Shore Family Vacation, Love is Blind,
RuPaul's Drag Race, Geordie Shore,
Acapulco Shore, Bachelor in Paradise
and more – as they come together for an epic vacation at the
ultimate Shore house in Gran Canaria, Spain, to battle it out for the grand prize
and global bragging rights.
- Ink Master – the hit tattoo competition makes its
premiere on Paramount+ in markets around the world with all-new
episodes later this year. Featuring some of the nation's top tattoo
artists battling it out in permanent ink for $250,000 and the prized title of Ink
Master, the competitors will test their technical skills
and on-the-spot creativity in challenges unlike ever before.
- The Challenge: War of the Worlds – winners
from four new Challenge series The Challenge:
CBS (working title), The Challenge:
Argentina, The Challenge: Australia and The Challenge:
U.K. will advance to the first-ever globally connected
tournament, The Challenge: War of the Worlds, and
battle for the title of Challenge World
Champion.
- The Real World Homecoming: New
Orleans – the third installment of the hit original
unscripted series will reunite original New Orleans cast members David "Tokyo" Broom,
Melissa Howard, Jamie Murray, Danny
Roberts, Matt Smith,
Julie Stoffer and Kelley Wolf in "The Big Easy." In addition, the
original season of The Real World: New Orleans will be available to
stream on Paramount+ beginning in April.
In addition to these all-new titles, seven upcoming
iterations from THE SHORE franchise will launch on
Paramount+ in territories around the globe, including
Argentina Shore,
Colombia Shore and Australian
Shore, with more cities to be announced.
And, the following top-performing reality series have been
renewed for Paramount+: Queen of the Universe,
RuPaul's Drag Race All Stars and The Challenge:
All Stars. Internationally, global phenomenons
Acapulco Shore, Geordie Shore: Return of the
OGs and Rio
Shore have also been renewed.
Global Scripted
The Taylor Sheridan universe continues to expand with new
chapters of the Dutton family drama with a new original from the
Yellowstone co-creator announced today:
- 1932 – the next chapter of the
Yellowstone origin story is ordered. Produced by MTV
Entertainment Studios and 101 Studios, 1932 will
follow a new generation of Duttons during the time of western
expansion, Prohibition and the Great Depression.
Additionally, casting and production updates were included for
the following highly anticipated series:
- Land Man – Academy Award® winner Billy Bob Thornton has been tapped to lead the
upcoming series as a crisis manager for an oil company. Land Man
will be executive produced by Taylor Sheridan and David C. Glasser, Ron
Burkle, Bob Yari,
David Hutkin and Geyer Kosinski. The series will also be
executive produced by Dan Friedkin,
Jason Hoch, Scott Brown, and Megan
Creydt.
- Lioness – Zoe Saldaña will play 'Joe,' a
strong-willed, hard-nosed, station chief of the CIA's Lioness
Program, and the show will be executive produced by Taylor
Sheridan, David C. Glasser,
Ron Burkle, Bob Yari and David
Hutkin. Tom Brady will also
serve as executive producer and showrunner. Nicole Kidman, with her production company
Blossom Films, Zoe Saldaña, Geyer
Kosinski, and Jill Wagner are
also set to executive produce.
- Tulsa King – previously announced and starring
Sylvester Stallone, production
begins March 2022 and the series will
premiere this Fall.
New expansions of the most popular prime-time entertainment
include:
- NCIS: Sydney – a new original series
from one of the biggest and most successful global franchises. The
series, which is slated for 2023, will feature local stories with
Australian actors and producers, and will be filmed in one of the
world's most scenic harbor cities. Shane
Brennan, the Aussie creator of NCIS: Los Angeles, is attached.
- SEAL TEAM MOVIE – CBS will also expand the storytelling
universe for the hit Paramount+ drama SEAL Team,
producing a stand-alone movie for the streaming service.
Upcoming international hits in the making include:
- A Gentleman in Moscow (UK) – based
on the best-selling novel by Amor
Towles, this drama series tells the story of Count Rostov
who, in 1922, finds himself stuck in Moscow and on the wrong side of history. The
Communist Party agrees to let him live but he is never allowed to
set foot outside the Metropole Hotel until the day he dies.
Co-produced by ViacomCBS International Studios (VIS) and eOne.
- Sexy Beast (UK) – the prequel series,
based on the hit cult classic film of the same name, begins with
Gal Dove and Don Logan just as they
descend into the seductive madness of the London criminal world during the vibrant and
volatile 1990s. At its core, this is a love story between two men
-- à la Butch Cassidy and the
Sundance Kid. In association with VIS, produced by Chapter One,
with showrunner Michael Caleo
(The Sopranos).
- Simon Beckett's The
Chemistry of Death (Germany) – a thrilling, psychological
crime series based on Simon
Beckett's bestselling novels following forensic
anthropologist Dr. David Hunter.
Written by BAFTA-winning screenwriter Sukey
Venables Fisher (Electricity, Unconditional)
and directed by Richard R. Clark
(War of the Worlds, Versailles, Outlander), the series
will be shot in the UK. Producing partners are Nadcon Film and Cuba
Pictures, in association with VIS.
- Yonder (South
Korea) – set in 2032, Yonder is an unknown
space designed for the dead to be able to live on by uploading
memories of their lifetime from their brain. The story unfolds as a
man receives a message from his deceased wife, inviting him to the
unknown space, 'Yonder'. The drama/science-fiction series raises
questions about life and death and what it means to have eternal
happiness as humanity comes face to face with a world created by
advancements in science technology. Presented by TVING (CJ ENM's
streaming platform) and ViacomCBS, produced by Doodoong Pictures
and CJ ENM, directed by Lee
Joon-ik.
These new titles join a growing roster of previously announced
and highly-anticipated scripted series, including: Fatal
Attraction, Grease: Rise of the Pink Ladies,
Rabbit Hole and The Offer.
Additionally, Season 2 renewals for Halo,
and international hits Cecilia and Los
Enviados (The Envoys) were announced. Season 2 of
Super Pumped and Season 7 of Billions for
SHOWTIME were also ordered.
***
GLOBAL EXPANSION
ViacomCBS will continue the global expansion of Paramount+ in
2022. The company announced today that Paramount+ will make its
debut in France as an exclusive
bundle with CANAL+ Group, giving subscribers immediate access to
Paramount+ through the country's largest provider. Paramount+ will
also be available on an a la carte and direct-to-consumer basis in
the French market.
"We're continuing to leverage our global footprint and
long-standing relationships to expand Paramount+ into new markets
with enormous potential quickly and economically," said
Tom Ryan, President and CEO,
Streaming.
With Paramount+ and SkyShowtime, the company will have streaming
services available in more than 60 markets across the UK,
Latin America, Canada, Australia, South
Korea, the Caribbean and
all major markets in Europe by the
end of this year. In 2023, the company will look to Asia, Africa
and the Middle East, building on
Paramount+'s strong momentum to grow its presence in every region
of the world.
***
NEW PARAMOUNT+ AND SHOWTIME INTEGRATED OFFERING
Paramount+ subscribers will soon be able to enjoy SHOWTIME in a
new integrated offering that pairs together both services in an
unrivaled streaming collection of live and on-demand entertainment
with critically acclaimed and boundary-pushing programming in a
single user experience.
Starting this summer in the U.S., Paramount+ subscribers will be
able to upgrade their subscription to a bundle that includes the
SHOWTIME service through two plans, providing a huge range of
content at an incredible value:
- $11.99 for the Paramount+
Essential tier and SHOWTIME
- $14.99 for the Paramount+ Premium
tier and SHOWTIME
SHOWTIME will also remain available as a standalone premium OTT
subscription service and through various third-party streaming
platforms.
***
CONTINUED MOMENTUM
Paramount+ has exceeded the company's goals since its launch,
and ahead of schedule, as the key driver of ViacomCBS' overall
streaming growth. The company delivered more than 56 million total
global streaming subscribers and 84% revenue growth in the
direct-to-consumer segment in 2021.
As a result of its streaming momentum and incremental
investments, the company is raising its global streaming subscriber
goal from 65-75 million global streaming subscribers to more than
100 million subscribers by year-end 2024. The company is also
raising its 2024 DTC revenue goal from $6
billion to $9 billion.
"In just one year, Paramount+ has outperformed all
expectations," said Naveen Chopra,
Executive Vice President, Chief Financial Officer. "Our powerful
content, marketing and distribution engines drove explosive growth
as further proof of our ability to establish a sustainable, large
scale streaming business with a differentiated global
playbook."
***
For more information and a replay of the investor event, visit
ir.viacomcbs.com/investorevent.
*Click here for image assets
*Head to @ViacomCBS on Twitter to see all of today's
announcements
ABOUT VIACOMCBS
ViacomCBS (NASDAQ: VIAC; VIACA), to be known as Paramount, is a
leading global media and entertainment company that creates premium
content and experiences for audiences worldwide. Driven by iconic
studios, networks and streaming services, its portfolio of consumer
brands includes CBS, Showtime Networks, Paramount Pictures,
Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and
Simon & Schuster, among others. The company delivers the
largest share of the U.S. television audience and boasts one of the
industry's most important and extensive libraries of TV and film
titles. In addition to offering innovative streaming services and
digital video products, ViacomCBS provides powerful capabilities in
production, distribution and advertising solutions.
Live on February 16, 2022, please
visit www.paramount.com and @ParamountCo on Twitter for more
information about the company.
VIAC-IR
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