To better reflect its shifting interests in streaming, ViacomCBS will officially rebrand as simply Paramount.
Viacom and CBS merged two years ago, with Paramount+ launching a year ago. This name change shows a company that is clearly focusing on its streaming platform.
“An iconic global company deserves an iconic global name,” explained ViacomCBS chair Shari Redstone and president-CEO Bob Bakish in a note to staff. “One that reflects the power of our content; one that reflects our role as stewards of a rich heritage and as leaders in the future of entertainment.
“For more than a century, the name Paramount has been synonymous with great entertainment and industry leadership. It’s part of our history, as pioneers of the Golden Age of Hollywood. But as Paramount+ has made clear, it’s also about our bright future.
“And, not least, it’s an idea: a promise to be the best.”
The company owns a number of iconic brands, such as CBS, Showtime, MTV, Comedy Central, BET, Nickelodeon, Smithsonian, Paramount Pictures, and Paramount+.
Paramount also announced today it has acquired the international rights to South Park, the US domestic streaming rights to future episodes (starting with season 27 in 2024), and also signed a separate US$900 million deal last year with creators Trey Parker and Matt Stone to create spinoff movies for Paramount+.
“The success of the ‘South Park’ movies internationally is an early indicator of how massive it will be as a subscription driver,” Chris McCarthy, the head of MTV Entertainment Group, told Bloomberg.
