r/movies • u/Vanderlyley • 28d ago

News Paramount Posts $286M Fourth Quarter Streaming Loss

https://www.hollywoodreporter.com/business/business-news/paramount-fourth-quarter-streaming-1236148263/
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u/spaceraingame 28d ago

I still fail to see why they needed their own streaming service

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u/Sir_Shax 28d ago

That’s because Disney who owns half the current film industry started their own one and other studios thought their collection was also worth the same not realising their dog shit movies from the 90s don’t carry the same weight.

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u/Ink_Smudger 28d ago edited 28d ago

Disney+ was actually one of the last ones on the scene. If you include CBS All-Access, which Paramount+ was basically the rebranding of, it launched about 5 years prior to Disney+. Peacock is really the only major one that launched after Disney+, but that was also driven by Disney's purchase of FOX giving them majority control of Hulu, preventing NBCUniversal from having say in how it operated.

Of the major production studios, Paramount, WB, MGM, and Lionsgate (Starz) all had their own streaming services prior to Disney, their initial joint partnership in Hulu notwithstanding.

It was more all the major studios seeing the success Netflix was having with their stuff and believing they could do the same thing if they took their ball home and made their own.

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u/Sir_Shax 28d ago

In Australia we don’t have any of those you’ve mentioned there like Peacock, WB, MGM, Starz or CBS. Hulu, I think, is bundled with Disney+. Even Max is only just starting out here on March 31st due to previously being licensed on our existing cable TV network.