REUTERS: ViacomCBS Inc is preparing to launch a subscription streaming video service that will combine the free and paid services of CBS, programming from brands including MTV, Nickelodeon, Comedy Central and BET as well as films from the Paramount movies studio, a source familiar with the matter said.
The company is not expected to plow the multi-billions of dollars of new investment into the service, the source said. Instead it will build from the existing properties.Details of the service have yet to be finalized. Executives are expected to discuss the strategy next Thursday when the company reports fourth-quarter financial results, the source said.
ViacomCBS was among the first of the big media companies to launch streaming services, albeit smaller in scope. CBS All Access, which costs between US$6 and US$10 per month, launched in 2014. The Showtime streaming service, which costs US$11 per month, launched in 2015. The company has avoided the high stakes battle among Disney and the tech and telecom giants to furnish new services with original shows and movies and has pursued a strategy of creating and producing shows for other services including Amazon and Netflix. That will continue, the source said.
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