Showtime Officially Merging With Paramount+, New Name Revealed
Paramount Global unveiled plans for the future of Showtime, with several major surprises thrown in. The Paramount+ and Showtime brands are merging as expected, but the linear Showtime channel is also getting a new name. It will be rebranded as "Paramount+ with Showtime."
Later this year, Showtime will change to "Paramount+ with Showtime" across linear and streaming. Showtime content will also be added to the Paramount+ premium tier, but only in the U.S. Chris McCarthy will lead the Showtime studio and oversee linear channel operations. Tom Ryan will oversee Paramount+ with Showtime's streaming business. McCarthy plans to explain what the changes mean for the future of Showtime and its employees during a town hall on Feb. 23, according to a note seen by Deadline.
"As a part of Paramount+, we can put more resources into building out the lanes that have made the Showtime brand famous, as well as turning our hit shows into global hit franchises," McCarthy wrote in his note to employees. "To do this, we will divert investment away from areas that are underperforming and that account for less than 10% of our views. We have already begun conversations with our production partners about what content makes sense moving forward and which shows have franchise potential."
Those conversations led to three major cancellations on Monday. Showtime canceled Let The Right One In and American Gigolo after one season. Three Women, an already-completed series that stars Shailene Woodley, was canceled and its producers are reportedly shopping it to other venues.
Showtime began experiencing major changes last year when David Nevins left Paramount Global. Nevins was the longtime Showtime Chairman and CEO, then rose in the ranks at Paramount Global after the Viacom-CBS merger was completed. When he left at the end of 2022, Nevins was the Chairman and CEO of Paramount Premium Group and Chief Creative Officer at Paramount+ Scripted Series.
"Showtime has captivated audiences for decades with ambitious original series that defined premium content and fandom," Paramount Global CEO Bob Bakish wrote. "Its name will always stand for critically acclaimed, groundbreaking entertainment and creative excellence. Now, with Showtime's content integrated into our flagship streaming service, and select Paramount+ originals joining the linear offering, Paramount+ will become the definitive multiplatform brand in the streaming space – and the first of its kind to integrate streaming and linear content in this way." Bakish went on to acknowledge potential layoffs within Showtime, adding that change "brings uncertainty for the teams working on these brands and businesses."0comments