Paramount Global (PARA) Floats Paramount+ for Italy Audiences

Paramount Global’s PARA streaming service, Paramount+ is set to be launched on Sep 15  in Italy with more than 8,000 hours of entertainment.

Paramount Global rolled out the Blue Carpet and hosted a dazzling star-studded event on Sep 14 in Rome to celebrate the launch of Paramount+ in Italy. Following the event, the service revealed its content slate that features the biggest stars and most compelling stories.

Roberto Benigni, Elodie, Greta Scarano and Carlo Verdone are among the Italian stars collaborating with Paramount+, alongside global talent like Harrison Ford, Jessica Chastain, Helen Mirren, Sylvester Stallone, Miles Teller and more.

The streaming service provides a broad slate of releases for the underlined region, spanning new and exclusive Paramount+ originals, hit shows and popular movies across every genre from Paramount's world-renowned brands and production studios, including Comedy Central, MTV, Nickelodeon, Paramount Pictures, SHOWTIME and the Smithsonian Channel, thus offering the best from international exclusive titles and local content.

In Italy, Paramount+ is available online on the Paramount+ website via dedicated iOS and Android apps, as well as on SkyQ, Smart TVs and at no extra cost to Sky Cinema subscribers. For the first 10 days (Sep 15-25), users can benefit from a special promo on paramountplus.it to access the service for EUR 4.99, with a seven-day trial period.

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Paramount+ Robust Content Pipeline for Italy Audience

As part of its stated aim to greenlight 150 international originals by 2025, Paramount+ is bringing Hollywood to Italy, besides a wide range of locally created content.

The service is investing in local content and talent, with an unrivaled lineup of Italian originals, such as the newly announced Francesco Il Cantico, a new season of Vita Da Carlo in addition to Circeo, Miss Fallaci, Quattordici Giorni, Corpo Libero, Ex On The Beach, Are You The One? and Ti Mangio Il Cuore, the film based on Carlo Bonini and Giuliano Foschini's novel-investigation of the mafia in Foggia.

Global series that will be available on Paramount+ in Italy include The Offer, a limited series with Miles Teller, Tulsa King starring Sylvester Stallone, Taylor Sheridan’s Yellowstone prequel 1923 starring Helen Mirren and Harrison Ford and Halo, the drama-fantasy series based on the enduring Xbox video game franchise.

Other global features that will be included in the viewing selection are the new British show Sexy Beast and A Gentleman in Moscow, French thriller Mask: Marie Antoinette Serial Killer, One Must Die from Mexico and German drama Simon Beckett’s Chemistry of Death.

In addition to new releases such as Top Gun: Maverick and Scream 5, Paramount+ will offer iconic classics on the platform, such as Grease, The Godfather, the Star Trek franchise, Transformers and much more.

There are also many productions dedicated to children and their families. This year will see the revival of the series iCarly with actress Miranda Cosgrove, the new animated series Big Nat and the reboot of the Rugrats and Two Fairly Oddparents: even more fantasy, a new series in mixed media, live action and animation, based on the historic Nickelodeon animated series. Paramount + will also offer children’s and family favorite franchises such as SpongeBob SquarePants, PAW Patrol and many others.

Global Tie-Ups and Expansion Bode Well

Among other factors, the company’s constant efforts to expand the availability of its streaming services internationally are noteworthy. Beyond Europe, Paramount is gearing up for an India launch for Paramount+ in 2023. The company’s FAST service Pluto TV is also making international waves, recently turning up in the Nordics and Canada.

On Aug 3, Paramount Global and Roku ROKU announced that Paramount+ would be launched as a Premium Subscription within The Roku Channel later in the month.

In January 2021, the company renewed its CBS Television Network affiliation agreement with Nexstar’s NXST wholly-owned subsidiary Nexstar Media and its operating partners in 39 markets across the country. The combined reach of the 39 markets is 14% of the U.S.-based audience, serving 17.4 million television households.

Around the same time, Paramount also entered into a distribution agreement with Comcast CMCSA division Comcast Cable, per which Paramount’s entire portfolio of channels will be available to the latter’s Xfinity customers.

Shares of this Zacks Rank #5 (Strong Sell) company are down 27.4% in the year-to-date period compared with the Zacks Media Conglomerates industry’s decline of 23.9% and the Consumer Discretionary sector’s decline of 33.6%.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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