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Bob Bakish, President and CEO of ViacomCBS Inc., center left, and Shari Redstone, President of VicaomCBS Inc., applaud at the opening bell to celebrate the company’s merger at the Nasdaq MarketSite in New York, in United States, Thursday, December 5, 2019.
Michael Nagle | Bloomberg | Getty Images
ViacomCBS announced on Tuesday that it will launch its Paramount + streaming service on March 4.
Paramount + will enter the streaming wars at an increasingly busy time. It will join rivals such as Disney’s Hulu and Disney +, NBCUniversal’s Peacock and WarnerMedia’s HBO Max as mainstream media companies embrace streaming.
The company’s shares are down more than 1% on pre-market.
The company’s current streaming service, CBS All Access, costs $ 5.99 per month with ads and $ 9.99 per month without, although all live programming includes ads. Previously, the company’s chief digital officer, Marc DeBevoise, told CNBC the prices would not change. A spokesperson said we can expect to hear more about pricing on February 24.
Paramount + will offer new content, as well as CBS All Access’s existing offering of over 20,000 episodes and films from MTV, Nickelodeon, Comedy Central, BET, Paramount Pictures, CBS, original series and more.
The company said Paramount + will debut in Latin America on March 4, in the Nordic countries on March 25, and in Australia in mid-2021. ViacomCBS is expected to release its fourth quarter results on February 24, where it is expected to provide an overview of its streaming strategy.
Disclosure: NBCUniversal is the parent company of CNBC.
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