To prevent cable TV customers from canceling their cable TV, Charter Communications is now offering the ad-supported version of Paramount+ on all Spectrum TV Select and Mi Plan Latino packages nationwide – at no additional fee.
The new offering, available starting August 22, is part of the two companies’ renewed multi-year distribution agreement signed in May. Paramount+ Essential offers streaming access (with advertising) to programming from CBS, BET, Comedy Central, MTV, Nickelodeon, Paramount Pictures and more. Charters Spectrum video customers now have access to more than 40,000 TV episodes and movies, including original series such as “Tulsa King,” “Special Ops: Lioness,” “SpongeBob SquarePants” and “Big Brother,” as well as live sports on CBS.
“This partnership not only enhances the viewing experience by providing access to premium original content and live sports, but also creates new distribution opportunities for Paramount and is an important step toward building a healthier video ecosystem that benefits both our customers and the industry as a whole,” said Tom Montemagno, executive VP of programming acquisition at Charter, in a statement.
As part of the Paramount charter agreement, the cable operator also plans to launch BET+ Essential for Spectrum TV customers sometime in 2024.
For Paramount, the addition of Paramount+ Essential to Charter’s TV plans comes after the company increased retail prices for streaming, effective August 20. The price of Paramount+ Essential increased by $2 to $7.99 per month for all new subscribers (while Paramount+ With Showtime increased by $1 to $12.99 per month). Paramount Global executives have said they will only include Charter customers who have activated Paramount+ Essential when counting their streaming subscriptions. Financial terms of the deal were not disclosed, but typically in such deals, the distributor (i.e. Charter) pays the content owner (Paramount) a wholesale fee per subscription.
Paramount Global, like other traditional media companies, is struggling with declining TV revenues as it tries to boost its streaming business and has made mass layoffs to cut costs. Its fate is currently uncertain: The board’s special committee on mergers and acquisitions is reviewing a new $6 billion offer from an investor group led by Edgar Bronfman Jr., putting the merger deal with David Ellison’s Skydance Media on hold.
The streaming components of the Paramount charter deal are similar to the agreement the cable operator struck with Disney last year, which allows select Spectrum TV customers to access Disney+ and ESPN+ at no additional cost.
“Paramount and Charter have long been committed to providing viewers with more ways to enjoy their favorite premium content as the media landscape evolves,” said Ray Hopkins, Paramount’s president of U.S. network distribution. “We look forward to expanding our reach and engagement with Spectrum subscribers through the initial launch of Paramount+ Essential, a broad household offering that offers something for everyone across our leading portfolio of news, sports and entertainment programming.”
Charter TV subscribers can access Paramount+ through Charter’s Xumo Stream Box or any other device that supports Paramount+. Eligible Spectrum Video customers can activate their Paramount+ Essential subscription at this link.
