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Thursday, December 14, 2023

Could Paramount Network Be Shutting Down Soon?

As of Jan. 8, 2024, Paramount Global will rebrand the linear Showtime cable network as Paramount+ With Showtime — the same name as the company’s top-tier streaming package. With the name change, the premium cable network will add select Paramount+ original series.

According to Paramount, “The move aligns the brand with the Paramount+ With Showtime plan, a cornerstone integration for the streaming service, making this the first of its kind multiplatform brand that integrates streaming and linear content.” The company introduced Paramount+ With Showtime as the name of its ad-free streaming package this summer and said it would phase out the standalone Showtime streaming app around the end of 2023 and rebrand the cable network.

As part of the rebrand, Showtime subscribers as of Jan. 8 will have access to new Paramount+ original series “Sexy Beast,” the upcoming second season of video game adaptation “Halo” and additional programming from Paramount+, including “Halo” Season 1, Taylor Sheridan’s “Mayor of Kingstown” Seasons 1-2, “Star Trek: Discovery” Seasons 1-4 and “Wolf Pack” Season 1.

Of course something that hasn't been discussed here in general was the future of the current Paramount Network. After replacing Spike, the channel was meant to serve as alternative offering to the Showtime brand with its own range of reality shows, films and dramas.

As of 2022, the channel is basically another TCM and Sundance TV featuring reruns to classic dramas and sitcoms. Similar to Universal Kids, one would say that the channel was struggling to garner traction when it launched as it didn't have much longevity as the studios behind the production of to various content.

With the current Showtime channel set to rebrand to Paramount+ With Showtime it would raise a lot of confusion amongst consumers. Paramount Network would seem more like what Paramount Global is perceiving with Paramount+ With Showtime which isn't the case here.

If one would have to guess what future awaits Paramount Network it would more likely be consolidation or as seen with BET and the rest of Showtime Group - a possible sale. Unlike the latter, Paramount Network has become redundant so they'll likely have to just bundle the channel with the current offering.

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