Ad-Supported Paramount+ Essential and BET+
Essential will be Included in Spectrum Video Packages at No
Additional Cost to Customers
Charter to Make Paramount's Direct-to-Consumer
Products Available for Purchase by its Internet-Only
Customers
NEW
YORK and STAMFORD,
Conn., May 23, 2024 /PRNewswire/ -- Paramount
Global (NASDAQ: PARA, PARAA) and Charter Communications, Inc.
(NASDAQ: CHTR) today announced they will extend their long-standing
partnership with a multi-year distribution agreement for
Paramount's full portfolio of linear cable networks, CBS
owned-and-operated broadcast stations and direct-to-consumer
streaming services that generates greater value for consumers while
creating new distribution opportunities and a glide path to a
healthier video ecosystem.
In addition to CBS, America's most-watched network, Spectrum
audiences will continue to enjoy access to some of TV's most
popular cable brands, including BET, Comedy Central, MTV,
Nickelodeon, and Paramount Network – home to "Yellowstone," the
biggest series in all of television – as well as premium service
Paramount+ with Showtime. As part of the deal, the ad-supported
versions of Paramount's direct-to-consumer services, Paramount+
Essential and BET+ Essential, will be included at no additional
cost to Charter's Spectrum TV customers. Charter also will make
Paramount's direct-to-consumer products available for purchase to
its millions of Internet-only customers.
"From the outset, Paramount has embraced Charter's goal of
evolving the video distribution model, and we have appreciated
their willingness to collaborate on a solution that benefits our
mutual customers and the video industry as a whole," said
Tom Montemagno, Executive Vice
President, Programming Acquisition for Charter, which operates the
Spectrum brand of video and connectivity services. "Continuing to
build on our new distribution framework with the addition of
Paramount+ Essential and BET+ Essential, joining the Paramount+
with Showtime service for Paramount+ with Showtime linear customers
and others like Disney+, ESPN+, ViX, Max for HBO customers, Tennis
Channel Plus, and numerous regional sports networks'
direct-to-consumer apps for customers of our regional sports
networks, Spectrum continues to transform the cable bundle to
become the best destination and value for video customers and we
expect to continue to add more enhancements like this in the near
future."
"We are very pleased to renew and expand our long-standing
partnership with Charter to provide continued access to Paramount's
leading portfolio of broadcast, entertainment, news and sports
brands," said Ray Hopkins, President
of U.S. Networks Distribution at Paramount. "This innovative deal
celebrates our mutual commitment to deliver flexibility, choice and
value for audiences everywhere, and we look forward to bringing
even more of our fan-favorite programming to Spectrum customers
through our direct-to-consumer streaming services for the first
time."
Among the key deal points:
- Charter will continue to carry Paramount's CBS
owned-and-operated broadcast stations, along with all of
Paramount's current cable networks and Paramount+
with Showtime, in relevant tiers across all Spectrum TV Select
packages, Mi Plan Latino, TV Choice
and TV Stream.
- Later this year, Paramount+ Essential and BET+ Essential will
be made available at no additional cost to all Spectrum TV Select
packages and Mi Plan Latino
customers through the Xumo Stream Box or any other Paramount+
supported device, and the Paramount+ with Showtime plan will
continue to be received at no cost by all of Spectrum's Paramount+
with Showtime linear customers as well.
- Spectrum customers that have Paramount+ Essential included will
be offered the opportunity to upgrade to the ad-free version of
Paramount+ with Showtime later this year.
Charter and Paramount will continue to innovate through
long-standing advanced advertising partnerships, leveraging the
local and advanced capabilities of Spectrum Reach, Charter's
advertising sales business, which will be enhanced through this new
agreement. Additionally, Charter will leverage its vast
distribution capabilities – including its nearly 25,000 onshore,
in-house sales and marketing employees – to offer Paramount's
direct-to-consumer products to its Internet-only customers for
purchase at retail rates, with revenue share to Charter for new
paid subscriptions and ad-free upgrades.
Financial terms of the agreement were not disclosed.
About Paramount
Paramount Global (NASDAQ: PARA, PARAA)
is a leading global media, streaming and entertainment company that
creates premium content and experiences for audiences worldwide.
Driven by iconic consumer brands, Paramount's portfolio includes
CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET,
Paramount+ and Pluto TV. Paramount holds one of the industry's most
extensive libraries of TV and film titles. In addition to offering
innovative streaming services and digital video products, the
company provides powerful capabilities in production, distribution,
and advertising solutions.
For more information about Paramount, please visit
www.paramount.com and follow @ParamountCo on social platforms.
PARA-IR
About Charter
Charter Communications, Inc.
(NASDAQ:CHTR) is a leading broadband connectivity
company and cable operator serving more than 32 million customers
in 41 states through its Spectrum brand. Over an advanced
communications network, the Company offers a full range of
state-of-the-art residential and business services including
Spectrum Internet®, TV, Mobile and Voice.
For small and medium-sized companies, Spectrum Business®
delivers the same suite of broadband products and services coupled
with special features and applications to enhance productivity,
while for larger businesses and government entities, Spectrum
Enterprise® provides highly customized, fiber-based solutions.
Spectrum Reach® delivers tailored advertising and production for
the modern media landscape. The Company also distributes
award-winning news coverage and sports programming to its customers
through Spectrum Networks. More information about Charter can be
found at corporate.charter.com.
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SOURCE Paramount Global
