How Paramount Global Stock Gained 34% Last Month
Shares of Paramount Global (NASDAQ: PARA) rose 34% in January, according to data from S&P Global Market Intelligence. The media and entertainment studio bounced back from a 44% price drop in 2022 as a rebranding and restructuring of the Showtime premium content channel evolved from rumor to reality.
Combining the former premium cable channel Showtime with the Paramount+ video-streaming app is not exactly new. Paramount introduced a tightly integrated "Paramount+ With Showtime" bundle in August 2022. However, the integration will soon be much tighter. The two streaming platforms will be combined into one service later this year, adopting the name of the bundle package for the combined platform.
In a staff memo seen and shared by several media outlets, Paramount CEO Bob Bakish outlined the future of a multiplatform service under a single brand. In addition, the internal merger will make the U.S. instance of Paramount+ more like its international versions, where Showtime already operates as an additional content source within a unified service package.
Source Fool.com
