“Paramount’s iconic peak represents a rich history for our company as pioneers in the Golden Age of Hollywood. By adopting the Paramount name, we are pioneering an exciting new future,” said ViacomCBS President and CEO Bob Bakish.
According to Bakish, the company saw “a huge global opportunity in streaming, a market with greater potential than linear TV and film alone can capture.” Thus, ViacomCBS will continue the global expansion of Paramount+ in 2022.
The company also announced on Wednesday that Paramount+ will debut in France as an exclusive package with CANAL+ Group.
According to the president of the streaming area, Tom Ryan, the company will have streaming services available in more than 60 markets around the world. United Kingdom, Latin America, Canada, Australia, South Korea, the Caribbean and the main markets of Europe by the end of 2022. In 2023, the company has already announced that it will target Asia, Africa and the Middle East.
Paramount+ comes from exceeding the company’s goals since its launch. The company achieved more than 56 million total streaming subscribers worldwide and 84% revenue growth in the direct-to-consumer segment in 2021.
The company increased its global streaming subscriber target from 65-75 million global streaming subscribers to more than 100 million subscribers by the end of 2024. The company is also increasing its DTC revenue target to 2024 from $6 billion to $9 billion.
Source: Ambito
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