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ViacomCBS Reportedly next to Launch Major New Streaming Service

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ViacomCBS reportedly plans to launch a new streaming service soon. It is understood the service will combine content from many of the different ViacomCBS services and will be available in different tiers.

Viacom and CBS only recently merged to create ViacomCBS. Following the merger, it is now being reported the combined entity is preparing to launch a new streaming service into the market, although the service has yet to be given a name.

According to a report from CNBC, which credits “people familiar with the matter” for the information, the new streaming service will combine content from CBS All Access with content from many of the Viacom channels, including Nickelodeon, BET, Comedy Central, and Pluto TV. The latter is an ad-supported service that offers free access to live TV channels.

As for the price, the report suggests the unnamed service will come with a free ad-supported tier, and those willing to pay can opt for the premium version. Again, price has not been decided although the sources suggest the entry-level premium tier could cost less than $10 per month. The premium tier will also include content from Showtime.

ViacomCBS going the ‘HBO Max’ route

If the information is correct, this could be a strange move by ViacomCBS. The CBS All Access streaming service already costs $9.99 per month and it remains to be seen where CBS All Access will fit in if a new service with more content than CBS All Access is launched at the same price. That is, unless ViacomCBS plans to get rid of CBS All Access in the future.

Although strange, this appears to be reminiscent of the approach WarnerMedia has taken with HBO Max. HBO is priced at $14.99 per month and WarnerMedia has already confirmed the new, and fully-stocked HBO Max service will also be priced at $14.99 per month. However, AT&T and WarnerMedia have had no problem stating they want (and expect) all existing HBO subscribers to migrate over to HBO Max. The report does suggest ViacomCBS might take a similar approach by keeping existing streaming services on the market but also offer the collective streaming service at a price that’s too good to pass up.

It won’t be long until details on the new streaming service become clear, considering the report expects the company to officially announce the streaming service on February 20 – when ViacomCBS releases its fourth quarter earnings.

Source: CNBC

John Finn

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