Paramount+ has ‘tremendous momentum worldwide’ says CEO Bakish ahead of UK launch

Paramount CEO Bob Bakish has laid out the company’s stall ahead of launching SVOD Paramount+ in the UK and Ireland.

Speaking to the BBC’s Today programme, Bakish touted a “great mix of entertainment on Paramount+” ranging from the studio’s movies to CBS TV shows and originals made for the streamer.

The service launches in the UK and Ireland on June 22 for £6.99 per month, while Sky Cinema subscribers will gain access to the streamer at no additional cost as part of a wider strategic partnership between the companies. At launch it will offer 8,000 hours of content.

Bob Bakish

When asked about a potential scaling back of UK consumer spending on entertainment amid the country’s cost of living crisis, Bakish said: “It is a great time for us to be launching. Our service and brand has tremendous momentum worldwide.”

While the service in the US is available both with and without ads, Paramount+ in the UK and Ireland will launch without ads, though Bakish said this may change in the future. “In our initial phase we are launching Paramount+ in only the premium version without ads,” he said. “Over time we may choose to add an ad tier of Paramount+ internationally but we’re not at that point in time yet.”

He added that the company likes advertising and “giving consumers choice and flexibility, and we believe that offering a service option that’s free on one hand and fully premium on the other widens the markets we can serve.”

The exec admitted that “the broader market has a bit of choppiness to it,” and that “the visibility is not as good as it was” with a “modest Q2,” but pointed to positive performance in Q1 as the company’s scope for growth through the rest of the year. 

However, in spite of a “challenging” broader economy, Bakish said “we feel very good about our product [and] launch plans, and we feel great about our momentum.”

DACH future

While the company is gearing up to launch in the UK, Paramount has also revealed plans to launch in Germany, Austria and Switzerland in December. As in the UK, the service will be offered for free to Sky Cinema subscribers while being available for €7.99 more broadly.

In a release, Sabine Anger, SVP streaming for Central & Northern Europe and Asia, Paramount, said: “With the launch of Paramount+ in the German-speaking markets in December, we’re tying up a bundle of the best content and biggest stars from our global studios: a massive range of international highlights such as Scream, Star Trek: Strange New Worlds, PAW Patrol, The First Lady and many more meets strong local originals – the perfect Christmas present for streaming fans.”