Bob Bakish, president and chief executive officer of ViacomCBS Inc., center-left, and Shari Redstone, president of VicaomCBS Inc., applaud during the opening bell in celebration of the company’s merger at Nasdaq MarketSite in New York, USA, on Thursday fair, December 5, 2019.
Michael Nagle | Bloomberg | Getty Images
ViacomCBS said on Tuesday that it will launch its streaming service Paramount + on March 4.
Paramount + will enter the streaming war at an increasingly crowded time. He will join rivals such as Disney’s Hulu and Disney +, NBCUniversal’s Peacock and WarnerMedia’s HBO Max as traditional media companies embrace streaming.
The company’s shares fell more than 1% in the pre-market.
The company’s current streaming service, CBS All Access, costs $ 5.99 a month with ads and $ 9.99 a month without ads, although all live programming includes commercials. Previously, the company’s digital director, Marc DeBevoise, said CNBC’s price will not change. A spokesman said we can expect more price news on February 24th.
Paramount + will offer new content, as well as the existing CBS All Access offering of over 20,000 episodes and films 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, in the Nordic countries on March 25 and in Australia in mid-2021. ViacomCBS is expected to release fourth quarter earnings on February 24, when it is expected to deliver an overview of your streaming strategy.
Disclosure: NBCUniversal is the parent company of CNBC.