Walmart reaches streaming deal with Paramount+; market experts react
SlateStone Wealth Partners chief market strategist Kenny Polcari and T3 Trading CSO Scott Redler react to Walmart’s push into streaming on ‘The Claman Countdown.’
Paramount Global executives announced Thursday people will see an increase in the cost of Paramount+ streaming service subscriptions later in 2023.
CEO Bob Bakish said during the company's earning call that "streaming represents incredible value for customers" and that Paramount+ is "on the value end of the pricing spectrum." Thus, the company in 2023 "will raise [the] price for both Paramount+ Premium and Essential," he said.
CFO Naveen Chopra indicated the price changes are slated to come in the third quarter of 2023, when the company merges Paramount+ and Showtime. The changes will affect current and future subscribers, he told analysts and investors.
"When we launch the integrated service in Q3, subscribers to the premium tier of Paramount+ will enjoy a greatly expanded selection of content, reflecting the full suite of Showtime and Paramount+ originals, library content, movies, live sports and events," Chopra said.