ViacomCBS' Streaming Video Service to Be Rebranded as Paramount+ Next Year; Will Be Rolled Out Internationally
ViacomCBS (NASDAQ: VIA) has taken some of the wraps off its promised "super service" video-streaming platform. The company announced Tuesday that its current offering, CBS All Access, will be rebranded as Paramount+ in 2021.
Additionally, ViacomCBS said that it would introduce the service abroad, debuting it in markets such as Latin America, the Nordic countries, and Australia next year. It did not specify which countries in Latin America and Scandinavia would be covered.
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Finally, the company provided details on several new TV series that will be launched within Paramount+. One is The Offer, a scripted series about the making of the classic film The Godfather. Among other titles, the service will also debut a spy drama, Lioness, and a docuseries called The Real Criminal Minds.
Previously, ViacomCBS announced a slate of other series for the streamer, including Kamp Koral, a children's show from the makers of Spongebob Squarepants.
At the moment, CBS All Access offers over 20,000 episodes and films, according to the company. This number will grow to more than 30,000 by the time Paramount+ launches, ViacomCBS wrote.
In the press release heralding the new name, the company quoted its CEO Bob Bakish as saying that "With Paramount+, we're excited to establish one global streaming brand in the broad-pay segment that will draw on the sheer breadth and depth of the ViacomCBS portfolio to offer an extraordinary collection of content for everyone to enjoy."
Perhaps that's why ViacomCBS shares outpaced the gains of the wider stock market on Tuesday, rising to close nearly 1.4% higher on the day.
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