Paramount's Big Streaming Plans: What's Next?

Paramount is making waves in the streaming world. The company's CEO, David Ellison, recently shared their plans at a press conference. He made it clear that Paramount is all in on streaming. They are looking at different options, like teaming up with other companies or even merging their services, Paramount+ and Pluto TV. Ellison pointed out that streaming is super important for Paramount's success. With cable TV losing viewers, investing in streaming makes sense. He also mentioned that Paramount has some great shows and sports content, like Taylor Sheridan's series and NFL games, which are big draws for subscribers. Paramount+ has around 77. 7 million subscribers, which is a lot but not the highest in the streaming game. Pluto TV, which started the free, ad-supported streaming trend, has seen some competition lately. Despite this, Ellison said they are not committed to any deals yet. Gerry Cardinale, from Skydance's financial backer RedBird Capital, talked about the importance of good content. He said that in today's media world, content is not just nice to have—it's a must. He also mentioned that how this content makes money is just as important. Jeff Shell, Paramount's President, talked about the need to upgrade the company's technology. He said that while it's not the most exciting part of the takeover, it's crucial for a company this size. Andy Gordon, COO and Chief Strategy Officer, added that they will be improving the user interfaces of Paramount+ and Pluto TV to make them better for users. Ellison emphasized that Hollywood companies need to step up their tech game. He said that with three streaming services running on different systems, it's time to make some changes. Unless they can create tech that's as good as what comes out of Silicon Valley, they can't compete.