Paramount has moved swiftly to outline its vision after winning the bidding war for Warner Bros. Discovery, revealing plans to fuse HBO Max and Paramount+ into a single, robust streaming service in the years ahead. Chief executive David Ellison shared the details during the company’s first investor call post-acquisition.
“We will combine the streaming portfolios of the two companies into one stronger platform over the coming years,” he said on Monday morning. “Across the two platforms, there are over 200 million DTC subscribers today in more than 100 countries and territories worldwide.”
This ambitious merger emerges as a pivotal moment in the streaming wars, where giants grapple with subscriber fatigue and profitability pressures. Although the platforms boast a combined 200 million users—Paramount at 78.9 million and Warner Bros. Discovery at 131.6 million by the fourth quarter’s close—analysts expect significant shrinkage from overlaps, potentially landing at 150 to 180 million, according to Bloomberg projections.
For context, Netflix co-CEO Ted Sarandos once informed U.S. lawmakers that 80 per cent of HBO Max subscribers also use Netflix, which recently surpassed 325 million global accounts.
The content marriage promises blockbuster appeal, uniting HBO’s iconic series like “Game of Thrones” and “The Sopranos” with Paramount’s blockbusters such as “Yellowstone” and the sprawling “Star Trek” universe.
Hollywood Reporter experts foresee this lineup challenging Netflix’s grip on prestige TV and sci-fi, while boosting ad revenues amid soaring production expenses. Paramount+ itself turned profitable this year, as CNBC noted.
Ellison stayed silent on a name for the new entity, but Warner Bros. Discovery’s streamer has a history of renames—from HBO Now to the original HBO Max, then simply Max for two years, and back to HBO Max last summer. Sources cited by Deadline anticipate another evolution to harness HBO’s brand strength.
The deal hands Paramount CNN too, with no immediate cable sell-offs planned. “No divestitures planned at this time,” Ellison told analysts. CNN’s recently launched All Access streaming app may either persist independently or fold into the bigger platform—details pending.