Paramount Global and Charter Communications Strike Deal to Keep Paramount Networks Available
In a crucial move for the entertainment industry, Paramount Global, the parent company of CBS, Paramount+, MTV, Comedy Central, BET, Nickelodeon, and other brands, has reached a multi-year agreement with cable TV giant Charter Communications. This deal ensures that Paramount’s networks will remain accessible to Charter customers and offers the Paramount+ “Essential” tier and BET+ Essential to Charter TV subscribers at no additional cost.
Additionally, later this year, Paramount+ Essential and BET+ Essential will be included in Spectrum TV Select packages and Mi Plan Latino customers through the Xumo Stream Box or any other supported device. Users will also have the option to upgrade to the Paramount+ with Showtime plan.
Charter has also agreed to promote Paramount’s direct-to-consumer products to its Internet-only customers for purchase at retail rates, with Charter receiving a revenue share for new paid subscriptions and ad-free upgrades. The Paramount+ with Showtime plan will continue to be complimentary for Spectrum’s Paramount+ with Showtime linear customers.
The implications of this deal are significant, as a failure to reach an agreement could have resulted in a blackout, impacting Paramount’s carriage and advertising revenue. This deal comes at a critical time for Paramount, following the recent ousting of CEO Bob Bakish and ongoing discussions with potential acquirers.
Unlike previous negotiations where content providers had to make concessions, Paramount’s deal with Charter includes all of its current cable networks, ensuring that popular channels like MTV, Comedy Central, BET, and Nickelodeon remain available to viewers. While specific terms of the deal were not disclosed, it is described as a “multi-year” agreement, with ongoing discussions reflecting the evolving landscape of the entertainment industry.