What Happened to Paramount+ (streaming service)?
Paramount+ is a global subscription video-on-demand streaming service owned by Paramount Skydance Corporation, evolving from CBS All Access. It offers a vast library of content from Paramount Global's brands, including CBS, Nickelodeon, MTV, Comedy Central, BET, Showtime, and Paramount Pictures, alongside original series, films, and live sports. Following its rebranding in 2021 and significant international expansion, the service reached 79 million paid subscribers by late 2025, with a strategic shift towards profitable growth and high-impact content under the new ownership structure.
Quick Answer
Paramount+ originated as CBS All Access in 2014, rebranding in March 2021 to become Paramount Global's flagship streaming service. It rapidly expanded its content library and international footprint, integrating Showtime's direct-to-consumer service in 2023 and introducing ad-supported tiers globally. As of late 2025, Paramount+ boasted 79 million paid subscribers. Under the ownership of Paramount Skydance Corporation following their 2025 merger, the service is now focused on profitable growth, optimizing its content strategy towards high-impact originals, and has implemented price increases in early 2026.
📊Key Facts
📅Complete Timeline15 events
CBS All Access Launches
CBS Corporation launches CBS All Access in the United States, initially offering live streaming of local CBS affiliates and on-demand content.
CBS and Viacom Merge
CBS Corporation and Viacom merge, forming ViacomCBS, which would later integrate content from various Viacom brands into the streaming service.
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+ Officially Launches
Paramount+ officially launches in the U.S., Latin America, and Canada, replacing CBS All Access with an expanded library from ViacomCBS brands and new originals.
Ad-Supported 'Essential' Plan Introduced
Paramount+ launches a cheaper, ad-supported 'Essential' plan in the U.S., offering a more accessible entry point to its content library.
SkyShowtime Joint Venture Announced
Comcast and ViacomCBS announce a partnership to launch SkyShowtime, a new streaming service for over 20 European territories, which would eventually replace Paramount+ in some markets like the Nordics.
UK and Ireland Launch
Paramount+ expands its international footprint by launching in the United Kingdom and Ireland, bringing its content to new European audiences.
Showtime Integration Completed
Showtime's direct-to-consumer service is fully integrated into the Paramount+ premium tier in the U.S., creating a unified 'Paramount+ with Showtime' offering.
International Ad-Tier Expansion
Paramount+ announces the rollout of its ad-supported 'Basic' tier in Canada (April 2024) and Australia (June 2024), and the expansion of its 'Premium' tier to European markets.
Paramount Global-Skydance Merger Announced
Skydance Media and Paramount Global announce a definitive agreement to merge in an $8 billion deal, setting the stage for a new corporate entity.
Paramount Skydance Corporation Formed
The merger between Skydance Media and Paramount Global is completed, forming the new entity, Paramount Skydance Corporation.
79.1 Million Subscribers & UFC Deal
Paramount+ reports 79.1 million paid subscribers for Q3 2025 and announces that monthly UFC events will be included in subscriptions from 2026, alongside planned price increases.
Content Strategy Shifts Post-Merger
Following the Skydance merger, Paramount+'s content acquisition strategy becomes laser-focused on ROI, prioritizing high-impact, franchise-connected originals over volume commissioning.
DTC Profitability & 2026 Outlook
Paramount Global reports 79 million paid subscribers at the end of 2025 and expects its direct-to-consumer business to grow profitability in 2026, driven by Paramount+ revenue growth.
Current Status: Focus on Profitable Growth
As of early April 2026, Paramount+ continues to operate under Paramount Skydance, with a strategic emphasis on increasing profitability, optimizing content spend, and leveraging live sports and key franchises. Price increases in the US have been implemented.
🔍Deep Dive Analysis
Paramount+ traces its origins back to October 28, 2014, when CBS Corporation launched CBS All Access in the United States. Initially, the service focused on live streaming of local CBS programming and on-demand access to CBS library content, expanding into original programming by 2016. The 2019 merger of CBS Corporation and Viacom laid the groundwork for a more ambitious streaming strategy, aiming to leverage the combined content libraries of brands like Nickelodeon, MTV, Comedy Central, and Paramount Pictures.
On September 15, 2020, ViacomCBS announced that CBS All Access would be rebranded as Paramount+ in early 2021, positioning it as the company's flagship global streaming service. The official relaunch occurred on March 4, 2021, in the U.S., Latin America, and Canada, followed by the Nordics later that month and Australia in mid-2021. This rebrand marked a significant expansion of content, incorporating a 'mountain of entertainment' from across the ViacomCBS portfolio.
The service's growth strategy involved aggressive international expansion and diversification of its offerings. In June 2021, an ad-supported 'Essential' plan was introduced in the U.S.. Paramount+ continued its global rollout, launching in the UK and Ireland in June 2022, and committing to commissioning 150 international originals by 2025. However, in some European markets, such as the Nordics, Paramount+ content became part of SkyShowtime, a joint venture with Comcast, which launched in September 2022.
A key turning point for Paramount+'s content strategy and subscriber experience was the full integration of Showtime's direct-to-consumer service into the Paramount+ premium tier on June 27, 2023, effectively creating 'Paramount+ with Showtime'. This move aimed to streamline offerings and enhance value for subscribers. Further expanding its tier strategy, Paramount+ announced the rollout of its Premium tier (with 4K UHD, HDR10, Dolby Vision) and an ad-supported tier in various international markets, including Australia, Canada, Brazil, and Mexico, starting in late 2023 and early 2024.
The most significant recent development affecting Paramount+ is the merger of its parent company, Paramount Global, with Skydance Media. Announced on July 7, 2024, and completed on August 7, 2025, this $8 billion deal created Paramount Skydance Corporation. Under the new leadership of David Ellison (Skydance's founder), Paramount+'s content acquisition strategy has shifted dramatically. As of early 2026, the focus is heavily on return on investment (ROI) at scale, prioritizing high-impact, franchise-connected originals over volume commissioning. The company aims for its direct-to-consumer business to achieve profitability in 2025, with growing profitability expected in 2026.
As of late 2025, Paramount+ reported 79 million paid subscribers globally. In early 2026, Paramount+ raised its subscription prices in the U.S. following similar adjustments in Canada and Australia. Live sports, particularly the inclusion of monthly UFC events from 2026, remain a central pillar for engagement and subscriber retention. The company is also investing in a unified technology stack across Paramount+ and Pluto TV to improve user experience and reduce costs, while rebuilding its theatrical slate to target 15 films per year by 2026.
What If...?
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