The streaming space really did heat up towards the end of 2019, but that was only the beginning, and this year, things are expected to be far more competitive. After the much-publicized merger between Viacom and CBS, it has now emerged that the merged company ViacomCBS (VIAC) is working on a streaming service of its own.
According to a report from CNBC, ViacomCBS is looking to combine the media assets under its control and create a new streaming platform altogether. It is believed that it is going to have CBS All Access as the base.
The Devil’s In The Detail
That being said, executives at the company have not reached a concrete decision with regard to the service. At this point in time, the option being explored is that of having CBS All Access as the base. They’d then begin adding Viacom assets like MTV, Paramount Pictures, Nickelodeon, BET, Comedy Central, and Pluto TV.
The company is going to make an advertising-free version available. There’s also a premium tier of the service that could include Showtime, according to the sources close to the developments. The sources went on to add that the company has not yet decided on the name of the product yet.
However, the sources went on to add that the streaming platform from ViacomCBS is going to be available for a monthly fee of less than $10. The Chief Executive of the company had thus far been non-committal with regards to the ViacomCBS and its streaming service ambitions.
However, the sources added that the company is going to speak about its plans to launch a streaming service. This will be during its conference call for its Q4 2019 earnings on February 20. ViacomCBS is a suitably large entertainment company. But it’s going to be a bit late to the streaming business in some sense. Will it be able to remain relevant in a world full of new streaming services?