Another streaming service challenging the European market
ViacomCBS is launching its Paramount+ streaming service in Europe via a multi-year cooperation with Comcast’s Sky. The company said it by the end of 2022 will have entered 45 markets including launching in Europe through Sky.
The announcement is another example of that the streaming home entertainment business is searching new ways to expand outside the US market that is considered saturated at the same time as the boom for streaming home entertainment is cooling down when societies re-open and people spend less time at home.
A number of US streaming services have earlier announced more or less aggressive attacks on the European market leading European TV companies to discuss how to counter the American giants. In France, two of the biggest private TV channels announced a merger with TF1 and M6 saying the decision was motivated by challenges from global platforms. Joining forces was needed to ensure long-term independence of French content creation, they said.
In 2022, Paramount+ will launch via Sky platforms in the UK, Ireland, Italy, Germany, Switzerland and Austria. The distribution agreement also includes the extended carriage of ViacomCBS’ portfolio of pay TV channels and the renewal of Sky as an ad sales partner in select markets, ViacomCBS said.
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