Paramount Plus, the movie-streaming subsidiary owned by global media company Paramount Global has announced plans to commission 150 original shows by 2025.
In a press release on Tuesday, the company said the content will come from Germany, Italy, France, and Mexico among other countries. The heavy investment is seen as a head-on thrust into an industry that’s quickly gaining traction, as the company seeks to cut a niche among established players including Netflix, Apple TV Plus, Disney Plus, HBO Max among others.
“As the service continues to expand internationally, there’s a great opportunity for content to travel globally, opening up a world of opportunities for talent and creators as we plan to commission 150 international originals by 2025 while delivering incredible value to subscribers on Paramount+,” said Marco Nobili, Executive Vice President and International General Manager of Paramount+.
Initially, the service ran as CBS All Access from 2014 but rebranded to Paramount Plus in 2021.
The on-demand streaming service has seen steady growth precipitated by the Covid-19 pandemic. Even before the pandemic, movie streaming had become a huge part of the modern lifestyle as it enabled people to go watch whatever they wanted, any time from any location. This lifestyle change has posed a threat to movie theatres, as Karen Hagen writes in The Daily Universe. “The preference for movie theatres has decreased since the start of the pandemic. “
A study published by research firm Statista reported that 52% of consumers in the U.S. had some form of streaming service in 2015. In 2021, that number increased by 26%, with 78% of consumers having at least one streaming service.
With more people being exposed to the internet and streaming as an option that saves them from going to movie theatres, streaming services such as Paramount Plus have a market for their services in future.