Showtime rebrands to Paramount+ with Showtime amid cancellations and potential layoffs – Deadline

show time It will not be a standalone brand.

Basic On Monday, Global revealed that the company is rebranding its premium cable network asParamount+ with ShowtimeAs part of a broad change that also brings the two brands together in the world of live broadcasting.

Later this year, Showtime, which has already gone through major changes last year with Departure of David Nevins, will become Paramount + with Showtime across both linear and streaming. Showtime content will then be available on Paramount+’s premium tier. This step only applies in the United States

Chris McCarthy will continue to lead Showtime’s studio and oversee network operations for the linear channel and work closely with Tom Ryan, who will oversee Paramount+ with Showtime’s broadcast business.

McCarthy told employees in a memo seen by Deadline that he will explain what the changes mean to the company at a town hall on February 23.

As part of the changes, the company will “shift investment away from underperforming areas” that account for “less than 10% of our view.”

“We’ve already begun conversations with our production partners about what content makes sense moving forward and which shows have franchise potential,” McCarthy said (read full notes below).

This has led to Cancellation of offers like Three womenwhich was completed but not broadcast; Let the right one; And American Gigolo.

“Showtime has captivated audiences for decades with ambitious original series that defined outstanding content and fandom. Its name will always stand for groundbreaking, critically-acclaimed entertainment and creative excellence,” said Bob Bakish, President of Paramount. “Now, with the integration of Showtime content into our premier streaming service, , and choosing Paramount+ originals to join the linear offering, Paramount+ will become the definitive multi-platform brand in the broadcast space – and the first of its kind to combine streaming and linear content in this way.”

Regarding the layoffs, Bakish added that “the change brings uncertainty to the teams working at these brands and companies” and will share details in the coming weeks.

Here are the notes released today.

From the bageesh:

Team,

Almost a year ago, we announced that ViacomCBS would become Paramount — harnessing the strength of our combined portfolio to become one integrated company. Since then, I’ve been incredibly proud of the many ways we’ve worked together across platforms, brands and continents to continually deliver as global leaders in the future of entertainment.

In this same spirit, I am pleased to share the next step in our company’s evolution. Today, we’re announcing that we’ll fully integrate SHOWTIME into Paramount+ across both streaming and linear platforms later this year – bringing even more iconic franchises and originals for viewers to enjoy. To reflect this change, both the premium broadcast tier on Paramount+ and the SHOWTIME linear network will become “Paramount+ with SHOWTIME” in the US.

SHOWTIME has captivated audiences for decades with ambitious original series that defined outstanding content and fandom. Its name will always stand for groundbreaking, critically acclaimed entertainment and creative excellence. Now, with the integration of SHOWTIME content into our flagship streaming service, and select Paramount+ originals joining the linear show, Paramount+ will become the definitive multi-platform brand in the broadcast space – and the first of its kind to combine streaming and linear content in this way.

This new combined offering demonstrates how we can leverage our full range of content to drive deeper connections with consumers and greater value for our distribution partners. This change will also bring stronger compatibility across domestic and international Paramount+ showings, as Paramount+ international already includes Showtime content. Most importantly, this integration will unlock operational efficiencies and financial benefits across our broader portfolio.

Chris McCarthy will continue to lead Showtime’s studio and oversee network operations for the linear channel. In tandem, he will work closely with Tom Ryan, who will oversee the live-streaming work of “Paramount + with SHOWTIME”.

While we are confident this is the right move for our company, our consumers and our partners, we know this change brings uncertainty to the teams working on these brands and businesses. We are committed to being as transparent and thoughtful as possible during this process, and we expect to share additional details in the coming weeks.

In the meantime, I would like to ask for your continued focus. Because of your hard work, dedication and collaboration, Paramount + with SHOWTIME is set to succeed. Thank you, as always, for all you do.

better,

Bob

From McCarthy’s office:

Hello all,

I wanted to follow up on the great news that Bob just shared about more integrations Showtime and Paramount+ to create one powerful streaming service, and explain why I’m so excited about this big step forward.

There are many benefits to Paramount+ and SHOWTIME on both the broadcast and network sides, in three main areas:

I’m sure you’ll have a lot of questions, and to that end, we’re planning an action Town hall In Los Angeles the week of February 23 to get into the details and highlights, which include:

Free and premium brands

The SHOWTIME brand has always appealed to audiences who prefer content that has more distinct, more mature themes, that focus on complex characters and layered worlds. SHOWTIME’s content appeals to urban-minded viewers who are more culturally diverse with a higher focus living in cities versus the general population. These audiences and themes are complementary to the Paramount+ brand, which is a broader brand, and appeals to the whole family and general market audience across the country.

Redirect investment to Showtime’s strengths

As part of Paramount+, we can devote more resources to building the arcade that made the SHOWTIME brand famous, as well as turning our successful shows into global franchises. To do this, we will shift investment away from underperforming areas that account for less than 10% of our view. We’ve already begun conversations with our production partners about what content makes sense moving forward and which shows have franchise potential.

As a reminder, SHOWTIME’s brand strengths and content filters are:

Integrated platforms – Greater focus on content

Now that SHOWTIME and our content are integrated as a premium tier of Paramount+, we’ll reach more people globally via live and linear broadcasts than ever before. On the network side, this will enhance our offering to these consumers by allowing us to leverage Paramount + assets as well as SHOWTIME originals, as well as Paramount Pictures movies that come to the Services.

This is a successful strategy that provides more value for our streaming customers and more reasons for cable subscribers to upgrade to the soon-to-be-rebranded Paramount+ with SHOWTIME Network. Most importantly, it allows us to put more of our focus on the things that make the Showtime brand famous: successful content.

More to come soon but for now, thank you for your help as we work hard together to make Paramount+ with SHOWTIME one of the leading global streaming services!

Thank you,

Chris

From Ryan’s office:

welcome,

To follow up on Bob’s note, I want to share my excitement for what this means for Paramount+.

Over the past couple of years, we’ve built a really distinct brand in the broadcast space. We’ve been laser focused on accelerating our business and enhancing our unique content mix, and we’ve made some impressive wins. And, you know, it’s paying off: We’ve solidified ourselves as the fastest-growing streaming service in the US, and led the industry in US sign-ups and total subscriber additions.

By further integrating SHOWTIME into Paramount+, we’ll now be able to offer our customers a seamless, fully integrated premium multi-platform service with more of the original, culture-shaping content they love. This enhanced offering serves our audiences and our creative partners – with greater ability to expand our franchises and build hits across the Paramount + universe in linear and streaming form.

Chris and I are working closely together to ensure our teams are prepared to best deliver the vast potential of this new offering. While there are still many details to work on, we’ll need to continue to be smart, creative and – above all – collaborative. I will be in touch with additional information over the coming weeks.

As always, thank you all for your hard work and dedication in making Paramount+ the best it can be.

Tom