ViacomCBS has announced that the global media company will become Paramount Global, effective from today (February 16), bringing together its portfolio of entertainment properties under a new parent company name.
“Paramount is an idea: a promise to be the best,” said Shari Redstone, Non-Executive Chair of the company’s Board of Directors, at the company’s investor event. “That promise has always been at the centre of what we aspired to build as the steward of more than a century of cinematic excellence, and with businesses and brands that have defined and redefined entertainment for generation after generation. We have made enormous progress, and I have never been more excited about the future of this company.”
“Paramount’s iconic peak represents a rich history for our company as pioneers in the Golden Age of Hollywood. Today, as we embrace the Paramount name, we are pioneers of an exciting new future,” added Bob Bakish, President and Chief Executive Officer.
In addition to the name change, the company has detailed plans to accelerate the global momentum behind Paramount+, unveiling new content, enhanced product offerings and continued international expansion.
“We see a huge global opportunity in streaming, a much larger potential market than can be captured by linear TV and film alone,” continued Bakish. “We’re excited about our ability to not just compete, but thrive, creating significant value for both consumers and shareholders. How? Because we’re broader in four key areas: our diverse content, streaming model, mix of platforms and global reach. As we look forward, the size of the opportunity we see is matched only by our ambition to seize it.”
The company announced that starting with 2024 film releases, Paramount+ will become the streaming home for all new Paramount Pictures movies in the U.S. following their theatrical runs.
New blockbuster franchise expansions unveiled include:
- SONIC THE HEDGEHOG – the first-ever original live-action Sonic series, featuring the character Knuckles, voiced by Idris Elba, is in development to debut on Paramount+, setting up the third film installment in the flagship franchise.
- SPONGEBOB SQUAREPANTS UNIVERSE – a further expansion of the SpongeBob universe is coming exclusively to Paramount+ with three brand-new movies based on the show’s original characters, with the first dropping in 2023. In addition, a fourth SpongeBob release from Nickelodeon Animation is currently in development for theatrical release.
- TEENAGE MUTANT NINJA TURTLES – a new era of TMNT-mania takes over in 2023 with a new animated take on the Turtles coming to cinemas, produced by Point Grey Pictures’ Seth Rogen and Evan Goldberg and directed by Jeff Rowe. Nickelodeon Animation will fast follow that film with a series of exclusive movies for Paramount+ beginning in 2023, each centering on one of the property’s storied villains in never-before-told tales.
- TRANSFORMERS – the next chapter begins with Transformers: Rise of the Beasts in 2023, where director Steven Caple Jr. and star Anthony Ramos, will lead the first of three film installments of the iconic Hasbro property. Additionally, the previously announced Untitled Animated Transformers film, a Paramount/eOne co-production with Josh Cooley attached to direct, will debut in theaters on July 19, 2024.
Other Kids and Family content announcements included updates to animated preschool favourites:
- Blue’s Big City Adventure – the now-announced animation/live-action hybrid title to this brand-new Blue’s Clues & You! movie from Nickelodeon Animation is set to premiere later this year and follows host Josh and Blue as they head to New York City, with the help of Steve and Joe, to audition for a big Broadway musical.
- Dora the Explorer – the preschool return of the groundbreaking Latina heroine in an all-new CG-animated series produced by Nickelodeon Animation, and featuring the beloved characters, plus key modernization to the storytelling, debuts in 2023.
Additionally, an update in Kids and Family live-action programming included:
- Dora the Explorer – in addition to the character’s animated preschool return, now in development from Nickelodeon is the first-ever live-action Dora the Explorer series, inspired by the tone of Paramount Pictures’ 2019 Dora and the Lost City of Gold theatrical release, with this new version for Paramount+ targeting the tween demo.