Tech

ViacomCBS to launch streaming service Paramount+ on March 4, to compete with Disney+, HBO Max

Bob Bakish, president and chief govt officer of ViacomCBS Inc., middle left, and Shari Redstone, chair of VicaomCBS Inc., applaud through the opening bell in celebration of the corporate’s merger on the Nasdaq MarketSite in New York, U.S., on Thursday, December 5, 2019.

Michael Nagle | Bloomberg | Getty Photos

ViacomCBS stated Tuesday it should launch its Paramount+ streaming service on March 4.

Paramount+ will enter the streaming wars at an more and more crowded time. It would be part of rivals akin to Disney‘s Hulu and Disney+, NBCUniversal‘s Peacock, and WarnerMedia’s HBO Max as conventional media corporations embrace streaming.

The corporate’s inventory was down greater than 1% within the premarket.

The corporate’s present streaming service, CBS All Entry, costs $5.99 monthly with ads and $9.99 monthly with out, although the entire reside programming consists of commercials. Beforehand, the corporate’s chief digital officer, Marc DeBevoise, informed CNBC pricing won’t change. A spokesperson stated we will anticipate to listen to extra on pricing on Feb. 24.

Paramount+ will provide new content material, in addition to CBS All Entry’ present providing of greater than 20,000 episodes and films from MTV, Nickelodeon, Comedy Central, BET, Paramount Photos, CBS, unique collection and extra.

The corporate stated Paramount+ will debut in Latin America on March 4, the Nordics on March 25 and Australia in mid-2021. ViacomCBS is ready to report fourth-quarter earnings Feb. 24, when it’s anticipated to ship an outline of its streaming technique.

Disclosure: NBCUniversal is the mum or dad firm of CNBC.

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