Media giants CBS and Viacom introduced plans to reunite that can mix the businesses into one as ViacomCBS on Tuesday.
The businesses cut up in 2006, however the merger has been long-expected. The mixed content material library of ViacomCBS will embrace greater than 140,000 TV episodes and three,600 movies with manufacturers that embrace MTV, Showtime, Paramount Footage, Nickelodeon, Comedy Central, BET, the CW, and naturally, CBS.
“By CBS and Viacom’s shared ardour for premium content material and innovation, we are going to set up a world-class, multi-platform media group that’s well-positioned for development in a quickly remodeling business,” Shari Redstone, the vice-chair of the boards of administrators for CBS and Viacom, mentioned within the launch. “Led by a proficient management group that’s excited by the long run, ViacomCBS’s success will likely be underpinned by a dedication to sturdy values and a tradition that empowers our distinctive folks in any respect ranges of the group.”
Within the press launch, the businesses be aware that the merger will permit them to “speed up direct-to-consumer technique.” The press launch states, “along with content material licensing, CBS and Viacom are growing must-watch programming for a broad vary of third-party networks and platforms to feed vital demand for authentic, premium content material.”
Subscription choices presently embrace CBS All Entry and Showtime, and streaming choices embrace PlutoTV. The streaming service provides 100 channels and hundreds of films and TV exhibits, and in contrast to its opponents like Netflix, Hulu, or Sling TV, it’s fully free.
The merger joins different large-scale media mergers, like AT&T shopping for Time Warner and Disney’s acquisition of Fox. Many critics say that these mergers are a method of making ready for a future the place streaming companies take reign over cable.
If ViacomCBS put its power towards streaming, which means your favourite exhibits like Shameless (Showtime), NCIS (CBS), Broad Metropolis (Comedy Central), Dexter (Showtime), Riverdale (The CW), Supernatural (The CW), South Park (Comedy Central), and extra could possibly be faraway from Netflix and Hulu and solely out there on the ViacomCBS streaming platform.
Nonetheless, ViacomCBS must sustain with not solely Hulu and Netflix, however Amazon Prime and Disney’s new streaming service, Disney+, that launches this fall.
Digital Developments reached out to ViacomCBS to touch upon the merger and the way the corporate plans to increase its streaming companies, however we have now but to obtain a response.