What Happened to Paramount+?
Paramount+ is a global streaming service that evolved from CBS All Access, offering a vast library of content from Paramount Global's brands, including CBS, Nickelodeon, MTV, Comedy Central, BET, Showtime, and Paramount Pictures. Since its rebrand in 2021, it has focused on international expansion, original programming, and live sports, aiming for streaming profitability amidst a competitive market and undergoing a significant merger with Skydance Media in 2025.
Quick Answer
Paramount+ has transformed from CBS All Access into a major global streaming service, significantly expanding its content library with a 'house of brands' approach and investing heavily in original programming and live sports. As of Q4 2025, it reported 79 million paid subscribers and 17% revenue growth for Paramount+. Following the merger of Paramount Global and Skydance Media in August 2025, the company, now Paramount Skydance Corporation, is prioritizing streaming profitability, implementing price increases in early 2026, and strategically exiting low-margin subscriber bundles to focus on higher ARPU growth.
📊Key Facts
📅Complete Timeline16 events
Launch of CBS All Access
CBS Corporation launches CBS All Access, an over-the-top streaming service, initially offering live CBS programming and on-demand content.
Expansion into Original Programming
CBS All Access begins to expand its content with original series, including 'Star Trek: Discovery' and 'The Good Fight'.
CBSN Integrated into CBS All Access
CBSN, the 24/7 streaming news service, becomes available to CBS All Access subscribers, enhancing its live content offering.
International Expansion Begins (Canada)
CBS All Access launches in Canada, marking its first international market expansion.
Paramount+ Rebrand Announced
ViacomCBS announces that CBS All Access will be rebranded as Paramount+ in early 2021, signaling a major expansion of content and international reach.
Paramount+ Official Launch
Paramount+ officially launches in the U.S., Canada, and Latin America, replacing CBS All Access with an expanded library from ViacomCBS brands.
ViacomCBS Becomes Paramount Global
ViacomCBS rebrands to Paramount Global, reinforcing the company's focus on its iconic brand and announcing further international expansion plans for Paramount+, including Showtime integration.
Launches in UK, Ireland, and South Korea
Paramount+ continues its global rollout, launching in the UK, Ireland, and South Korea, further expanding its footprint in key international markets.
Launch in India
Paramount+ expands into India through a joint venture with Viacom18, utilizing a capital-efficient 'hard bundle' strategy.
Skydance Media Merger Agreement Announced
Paramount Global and Skydance Media announce a definitive agreement to merge in an $8 billion deal, forming 'Paramount Skydance Corporation'.
Paramount Global and Skydance Media Merger Completed
The merger between Paramount Global and Skydance Media is completed, creating Paramount Skydance Corporation, with David Ellison as Chairman and CEO.
Q3 Earnings and 2026 Price Hike Announcement
Paramount Skydance reports Q3 earnings, announces plans for a US price increase for Paramount+ in Q1 2026, and commits to at least 15 theatrical releases annually starting in 2026.
Paramount+ US Price Increase Takes Effect
Paramount+ raises its monthly subscription prices in the US by $1 for both Essential and Premium plans, with annual plans also increasing.
Q4 2025 Earnings Report and 2026 Outlook
Paramount Skydance reports Q4 2025 earnings, showing 79 million paid subscribers for Paramount+ and 17% revenue growth, while projecting DTC profitability growth and $30 billion total revenue for 2026.
Acquisition of Tyler Perry's BET+ Stake
Paramount Skydance Corporation acquires Tyler Perry's stake in BET+, with plans to integrate the BET+ streaming service into Paramount+, phasing out the standalone platform.
Ongoing Warner Bros. Discovery Acquisition Talks
Paramount Skydance is reportedly in final negotiations to acquire all assets of Warner Bros. Discovery, a move that could significantly impact the entertainment industry.
🔍Deep Dive Analysis
Paramount+ traces its origins back to October 28, 2014, when CBS Corporation launched CBS All Access as the first over-the-top (OTT) offering by an American broadcast television network. Initially, it focused on live streaming of CBS programming and on-demand access to its library. The service began expanding into original programming in 2016 with shows like 'Star Trek: Discovery' and 'The Good Fight,' and added CBSN, its 24/7 news service, in August 2017. International expansion began in April 2018 with a launch in Canada, followed by Australia in December 2018 as 10 All Access.
The significant transformation began after the re-merger of Viacom and CBS in 2019, which led to the announcement in September 2020 that CBS All Access would rebrand as Paramount+ in 2021. This rebrand, officially launched on March 4, 2021, aimed to leverage the combined content libraries of ViacomCBS's diverse brands, including Nickelodeon, MTV, Comedy Central, BET, and Paramount Pictures, adopting a 'house of brands' strategy. The service rapidly expanded internationally, launching in Latin America and the Nordics in 2021, followed by the UK, Ireland, and South Korea in June 2022, and key European markets like Italy, France, Germany, Switzerland, and Austria by December 2022.
Paramount+ has faced intense competition in the streaming wars, leading to a focus on achieving profitability for its direct-to-consumer (DTC) segment. A major turning point occurred on August 7, 2025, with the completion of the merger between Paramount Global and Skydance Media, forming Paramount Skydance Corporation. This $8 billion deal aimed to strengthen Paramount's financial position and streamline operations. Following the merger, the company has emphasized strategic investments in content, including live sports like the UFC, and a commitment to releasing at least 15 theatrical films annually by 2026.
As of Q4 2025, Paramount+ reported 79 million paid subscribers, with its revenue growing 17% year-over-year. Despite a DTC adjusted OIBDA loss of $158 million in Q4 2025, the company expects streaming profitability to grow in 2026 relative to 2025. To support this, Paramount+ implemented price increases in the US on January 15, 2026, raising monthly plans by $1. The company also made a strategic decision to exit approximately 4-5 million 'hard bundle' subscribers with unattractive economics, which accounted for less than 2% of Paramount+ revenue in 2025, aiming for higher underlying subscriber growth and accelerating Average Revenue Per User (ARPU). Recent developments in March 2026 include the acquisition of Tyler Perry's stake in BET+ with plans to integrate the service into Paramount+, and the premiere of new original content and live sports coverage. The company is also reportedly in final negotiations to acquire Warner Bros. Discovery, a move that could significantly reshape the entertainment industry.
What If...?
Explore alternate histories. What if Paramount+ made different choices?