Paramount Considering Shutting Down Showtime

Showtime and Other Paramount Properties Are Being Considered for Shutdown by Paramount Pictures.

According to a Wall Street Journal report, Showtime is being discussed for “early” discussions of shutting down as a standalone service and merging its lineup of premium content over to its mainstreamer, Paramount+, according to unnamed sources. According to the same source, in negotiations with “at least one major pay-TV partner,” Paramount has “broached on the idea” of closing Showtime.

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According to company insiders, there are no immediate plans to change the Showtime brand. However, sources have confirmed to Variety that the media conglomerate is considering combining Paramount+ and Showtime as part of long-term discussions with distributors. Meanwhile, SkyShowtime — a collaboration between Comcast and Paramount Global that debuts in the Nordic countries of Denmark, Finland, Norway, and Sweden next week before expanding to the Netherlands in Q4.

Paramount refused to answer whether Showtime would remain a separate service in the future. “We are always exploring options to maximize the value of our content investment by giving consumers access to great Paramount content through an array of services and platforms,” a company rep said in a statement to Variety.

The WSJ report comes less than a month after Paramount combined Paramount+ and Showtime into one streamlining service. Now, subscribers can access content from both channels in one central location. Also, for a limited time only, customers can receive discounts of up to 33% on the bundle when subscribing through Oct. 2.

Showtime’s popular shows include “Billions,” “Yellowjackets,” “The Chi,” and “Dexter: New Blood.” Fall premieres on the premium service include “American Gigolo,” “Let the Right One In,” and the return of “Your Honor” and “The L Word: Generation Q.”

Content on Paramount+ includes original series like “1883,” “Halo,” “Star Trek: Discovery,” and “Secret Headquarters,” with upcoming originals this fall slated to include “Tulsa King,” “On the Come Up,” “Criminal Minds,” “Wolf Pack,” “1923” and the return of “The Good Fight” and “Seal Team.”

Paramount announced second-quarter results on July 26, stating that Paramount+ now has 43.3 million paid customers (including 1.2 million disconnects in Russia), giving a net increase of 3.7 million for the June quarter. In the second quarter, worldwide streaming subscribers increased by 1.7 million to 63.7 million, indicating that the company’s other direct-to-consumer offerings lost 2.4million subs overall.

Showtime’s streaming subscriber numbers have more than tripled in just three years, though Paramount has not publicly shared this information. According to an unnamed source within the company, subscription growth continues to surge.

Meanwhile, Paramount has signed a partnership with Walmart under which Paramount+ is now available in the Walmart+ membership program.

Paramount is the rebranded version of CBS All Access. It has two membership levels: the ad-supported Essential Plan ($4.99 monthly), which does not include access to live broadcasts from CBS local stations, and the ad-free Premium Plan ($9.99 monthly). Showtime, as a standalone streaming service, costs $10.99 per month.

The regular U.S. price for the Paramount+/Showtime bundle is $11.99/month for Essential and $14.99/month for Premium, which translates to 25% and 28% discounts, respectively.

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