Paramount+ seeks merger with other streaming service, incl Max
Paramount is continuing to look for a partner regarding their streaming service as new reports of a merger surface. It was revealed back in February that Paramount+ and Peacock were deep in discussions about potentially joining forces. Five months later, however, the move has ultimately failed to materialize. While a partnership between the two companies is still possible, a new report suggests a developing new outcome.
CNBC is claiming that Warner Bros. Discovery is interested in partnering with Paramount. The move would essentially pair Max with Paramount+ as a new joint venture. According to recent figures, Max has grown to hold a 14% market share among American streaming services.
While this particular number is seemingly not very high, it is currently the third-biggest figure among streaming services. Only Amazon Prime Video (22%) and Netflix (22%) have a higher market share at the moment.
Meanwhile, Paramount+ is widely considered to be losing money. The CBS streaming service currently has a 9% market share. Along with the aforementioned services, Disney, Hulu, and now even Apple have more subscribers than Paramount+.
Paramount+ needs to find a partner to help ease financial issues
Because of these lackluster numbers, Paramount is having ongoing talks with multiple media companies over a merger. As various streaming services reportedly continue to hemorrhage money, conglomerates are exploring ways to combat the issue. One of these solutions would be to combine forces and share more profits.
While nothing is official just yet, potentially combining Max and Paramount+ would allow the duo to compete with bigger streaming services. Disney most recently combined with other companies to grow its platform. Disney+, Hulu, and ESPN+ are now all under the same umbrella.
Our Pick:Includes: Champions League, Europa League, Serie A, NWSL, Argentine Primera, Brasileirão, Scottish Premiership, Women's Super League, & More |
A possible merger between Max and Paramount+, however, would not exactly be a 50-50 divide between the two sides. Max reportedly has around 100 million subscribers across the world. Paramount+, on the other hand, recently reported that they have around 71 million users.
Not only does Max have more total subscribers, but their parent company also currently rakes in significantly more money annually than Paramount. The latter company is losing funds fairly rapidly. This is a key reason for Paramount’s decision to look for a new partnership.
Both Max and Paramount+ feature solid soccer content
Nevertheless, assuming the deal occurs, a potential merger between the two companies would create a new super streaming service. Max is immensely popular with consumers looking for high-quality television and movies. However, the streaming service has also picked up key sporting events as well. This includes professional baseball, basketball, and hockey, but also soccer.
The United States men’s and women’s national teams previously agreed to an eight-year deal with Turner Sports. Due to their partnership with Turner Sports, Max regularly features their sporting content. Although major FIFA and CONCACAF tournaments are not part of the deal, friendlies and other matches featuring the USMNT and USWNT are now on Max.
Paramount+ also has some major soccer content as well. The streaming service is the American home to UEFA competitions such as the Champions League and Europa League. Nevertheless, other global soccer matches are also regularly available on the app as well. Potentially combining these two streaming services would be significant news for sports fans.
PHOTO: IMAGO