2 Attachment(s)
New ViacomCBS Streaming Platform Will Merge CBS & Viacom Streaming Services
Now that CBS and Viacom have merged into ViacomCBS, the company will merge the two's preexisting streaming services to create a new streaming platform. ViacomCBS is finally ready to step up and compete with the rest of the streaming giants that are taking over the television industry. Netflix was the first streaming service to accrue a large following after it transitioned from being a movie and TV mail order service. After Netflix's massive success as a streaming platform, Hulu stepped up its game and became a contender. Amazon Prime Video also started releasing originals that put it on the map. Entertainment titan Disney+ also put its name in the hat in late 2019.
Now all of the network channels and their parent companies are hopping on the bandwagon releasing their own streaming platforms. NBC's Peacock and Warner Bros' HBO Max are launching this spring. CBS already attempted to join in the streaming game releasing a streaming service called CBS All Access in October 2014. Viewers could watch current and past seasons that aired on CBS like Big Brother, Big Bang Theory and Elementary at their own convenience. Unfortunately, this was when consumers were still vehemently against networks stepping on streaming platform's shows and feared that doing so would do away with broadcast. Also, networks like ABC were still allowing viewers to stream for free with their cable provider login info, which turned many off from CBS All Access.
According to CNBC, CBS is trying to right its wrongs now that it has joined forces with Viacom. The new streaming platform will combine CBS's shows that have been available on CBS All Access with Viacom's conglomeration of channels including Pluto TV, Nickelodeon, BET, MTV, Comedy Central and Paramount Pictures. Viacom has already branched out into streaming as well with Showtime and Pluto TV. The base package will include ads and shows from all of the channels listed above excluding Showtime. Viewers can choose to upgrade to an ad-free package or a premium package that includes Showtime. All of the plans are slated to be less than $9.99.
The new streaming platform is still in the very early stages of development. ViacomCBS executives are expected to meet to flesh out more details about the new service during its fourth quarter earnings call on February 20th. Executives will also break down the subscriber figures and statistics for its existing streaming platforms including CBS All Access for the first time. ViacomCBS's streaming will likely release significantly later than its competitor's streaming platforms, which could either be an advantage or a disadvantage.
ViacomCBS's effort to keep up with competing networks is not surprising. Previous efforts have shown that both CBS and Viacom were not afraid to venture into the streaming world. It's less of an impressive innovation and more of a necessity for networks to join in the streaming game if they want to stay afloat. However, it is commendable that both companies realized they needed each other in order to stand a chance. CBS learned from its prior attempt that just its shows is not enough to elevate a streaming platform. Viacom has many assets that, combined with CBS's shows, will make this streaming platform more desirable.
