Paramount Global (NASDAQ: PARA, PARAA) and Charter Communications, Inc. (NASDAQ: CHTR) have announced the extension of their longstanding partnership through a multi-year distribution agreement. This agreement encompasses Paramount’s entire portfolio of linear cable networks, CBS owned-and-operated broadcast stations, and direct-to-consumer streaming services. The aim is to enhance value for consumers while opening up new distribution avenues, contributing to a more robust video ecosystem.
Under this agreement, Spectrum subscribers will continue to enjoy access to a range of popular cable brands, including BET, Comedy Central, MTV, Nickelodeon, and Paramount Network, which is home to the immensely popular series “Yellowstone.” Moreover, subscribers will have access to premium service Paramount+ with Showtime. As part of the deal, Charter will include the ad-supported versions of Paramount’s direct-to-consumer services, Paramount+ Essential and BET+ Essential, at no extra cost to Spectrum TV customers. Additionally, Charter will offer Paramount’s direct-to-consumer products for purchase to its millions of Internet-only customers.
Tom Montemagno, Executive Vice President of Programming Acquisition for Charter, expressed appreciation for Paramount’s collaboration in evolving the video distribution model. He highlighted the addition of Paramount+ Essential and BET+ Essential, further enriching Spectrum’s offerings.
Ray Hopkins, President of U.S. Networks Distribution at Paramount, emphasized the commitment to delivering flexibility, choice, and value for audiences. He expressed excitement about introducing more fan-favorite programming to Spectrum customers through direct-to-consumer streaming services.
Key highlights of the agreement include:
- Continuation of Paramount’s CBS owned-and-operated broadcast stations, cable networks, and Paramount+ with Showtime across relevant Spectrum TV packages.
- Availability of Paramount+ Essential and BET+ Essential to Spectrum TV Select packages and Mi Plan Latino customers later this year.
- Offerings for Spectrum customers to upgrade to the ad-free version of Paramount+ with Showtime.
- Ongoing innovation through advanced advertising partnerships, leveraging Spectrum Reach’s capabilities.
- Charter’s distribution capabilities to offer Paramount’s direct-to-consumer products to Internet-only customers for purchase, with revenue sharing arrangements.
This renewed and expanded partnership underscores the commitment of both Paramount and Charter to providing quality entertainment options and enhancing the viewing experience for consumers.
