A day ahead of the earnings release from streaming giant Netflix Inc NFLX, ViacomCBS Inc. VIAC confirmed the launch date of its own streaming service.
What Happened: ViacomCBS said Tuesday that its Paramount+ streaming service will launch March 4.
The company also confirmed timelines for the launch of the service in some international markets. Paramount+ will launch in Latin America on the same day as the U.S., while the timelines for Nordic countries and Australia are March 25 and mid-2021.
CBS All Access service in Canada will be rebranded to Paramount+ in March, with an expanded offering due to be available later in the year.
"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," ViacomCBS CEO Bob Bakish said in mid-September, while unveiling the brand for the company's streaming service.
At that time, the company announced additional original series such as the scripted limited event series "The Offer," the spy drama "Lioness," a new edition of "Behind the Music from MTV" and the crime docuseries "The Real Criminal Minds."
Also included in the service are Kamp Koral, a new original children's series from Nickelodeon's SpongeBob SquarePants.
The service will also stream sports like NFL games and those from other leagues, like the NCAA and PGA, and livestream news from CBSN and local stations.
Why It's Important: ViacomCBS is entering a crowded fray that includes the market leader Netflix and others such as Walt Disney Co's DIS Disney+, AT&T Inc.'s T HBO Max and Comcast Corporation's CMCSA Peacock.
Immediately after the completion of the merger between Viacom and CBS, the combined company executed content licensing deals with other streaming services and platforms such as Alphabet Inc Class A GOOGL GOOG and Hulu.
What's Next: The earnings presentation due Feb. 24 will deliver a comprehensive overview of ViacomCBS' streaming strategy, including Paramount+, Pluto TV and SHOWTIME OTT, the company said.
At last check, ViacomCBS stock was down 3.94% to $43.52.
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