Content Is Still King: ViacomCBS Touts Paramount Plus' Sports, News and Entertainment

Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

Content Is Still King: ViacomCBS Touts Paramount Plus' Sports, News and Entertainment

ViacomCBS unveiled plans for its new Paramount Plus streaming service Wednesday, revealing a competitive price point and sharing hours' worth of details about the company's strategy to transition into the streaming era while maintaining a foothold in traditional TV and movies. The company also said it will honor a shortened time period for movies to show exclusively in theaters before they appear on Paramount Plus.

The new streamer's debut got off to an inauspicious start when a virtual presentation to investors was unexpectedly delayed by a half hour, yielding some ridicule from the Twittersphere.

"The inability to stream an event focused on your streaming pivot...is uh...woof," tweeted media analyst Matthew Ball, summarizing the general sentiment among bemused investors and reporters.


Paramount Plus

Once the dust settled and the constant refresh clicks could cease, a string of company executives and entertainers took to the screen via Paramount Studios in Hollywood to provide new details on Paramount Plus, which launches on March 5. The service will cost $4.99 per month with ads and $9.99 without. The higher tier will also include more content, including more live sports.

The subscription platform is a rebrand and expansion of CBS All Access, which came out in 2014. ViacomCBS president and chief executive officer Bob Bakish first laid out the business case by highlighting the service's sports and news offerings.

"Few other streaming services will offer live sports at this scale," he said, noting that the company will showcase over 1,000 events and matches per year, including NFL games, March Madness, The Masters golf tournament and the UEFA Champions League.

The service will also offer 24-hour live news coverage, including a "60 Minutes Plus" program and content from over 200 local affiliate stations.

Bakish then touted the service's vast TV offering, which he said will carry over 30,000 episodes from ViacomCBS' stable of brands including MTV, Nickelodeon, BET and Comedy Central.

"If you like reality TV, Paramount Plus is the place for you," said Bakish, invoking MTV's origination of the genre with "The Real World," which will get a Paramount Plus reboot. Bakish said the service will include over 5,000 reality TV episodes, and in 2021 will launch a new reality series each month.

Bakish said Paramount Plus will have over 7,000 episodes of kids' shows. The company plans to build out already successful franchises like "SpongeBob Squarepants," "Dora the Explorer" and "Rugrats.

Well known franchises will be getting new life on the service as well, including a reboot of "Frasier," a spinoff from the "Halo" video game and "Beavis and Butthead" movie.

Content is King

Paramount Plus will offer over 2,500 films, the company said, including "Forrest Gump," "Indiana Jones," "Clueless," "Anchorman" and "The Godfather."

Optimistic analysts at Goldman Sachs pointed out in a note last month that Paramount Plus's expansive TV offering could be an important differentiator in the scorching hot streaming wars, which has seen a flurry of entrants over the last 18 months and now includes at least 10 viable subscription services on offer.

Paramount Plus' 30,000 episodes will dwarf the 8,000 available on HBO Max and 7,500 on Disney Plus, the analysts wrote.

Given that Paramount was one of the original Hollywood studios, it's only fitting that the service will have over 2,500 films, the company said. These will include a vast selection from both Paramount Pictures and Miramax Films, including "Forrest Gump," "Indiana Jones," "Clueless," "Anchorman" and "The Godfather."

Some yet-to-be-made films will debut exclusively on the service following a relatively short 30-45 day theatrical run, Bakish said. In the coming year these will include "A Quiet Place Part II" and "Mission: Impossible 7."

"I like that they're going to do shorter exclusive windows in theatrical but not eliminating them entirely, like AT&T did with HBO Max," said Laura Martin, media analyst at investment firm Needham.

ViacomCBS also owns ad-supported Pluto TV, which grew its global monthly active users by 80% year-over-year to 43 million, the company reported Wednesday. Bakish said the free service is poised to become a $1 billion line of business and also has potential to funnel users to its new paid service, Paramount Plus.

Some analysts are pessimistic about the new service's chances, however. Brandon Nispel, an equity analyst at KeyBanc Capital Markets, penned a note earlier this month suggesting that investors sell their ViacomCBS stock.

"We believe streaming only works if global scale can be achieved, like ~100M subs," he wrote.

ViacomCBS reported on Wednesday that across its current slate of streaming platforms – CBS All Access, Showtime OTT and BET Plus – it has nearly 30 million subscribers. The company said it expects it will reach between 65 and 75 million total subscribers by 2024.

For comparison, Disney Plus has about 95 million and Netflix about 200 million.

A Streaming War Combatant and Arms Dealer

ViacomCBS' pivot from a legacy media company toward a streaming focus isn't without precedent. That playbook has worked well for Disney, whose stock has reached record highs despite most of its business lines being decimated by the pandemic.

But replicating Disney won't be easy. For one, Paramount doesn't have the brand recognition or global distribution to rival that of the House of Mouse, Nispel wrote.

Nor will it help that Paramount Plus is a bit late to the game, as ViacomCBS has been relatively slow to pivot away from its "arms dealer" strategy of supplying content to other streaming companies. Last year the company made almost a quarter of its money from content licensing, according to Bloomberg.

"Every major streaming service has had a monster hit from one of our studios," said Bakish Wednesday. "If we direct that same great content engine back to our own streaming service...we can be successful, and that's exactly what we're setting out to do."

But the tone struck Wednesday by chairman Shari Redstone indicated that although ViacomCBS' streaming ambitions are growing, the company won't be quick to leave traditional media behind.

"We're not about only linear or only streaming; we're about both linear and streaming," she said. "The industry is transitioning but for consumers it's happening at different paces and in different places."

Martin likes that strategy, which she sees as a more sensible approach than Disney's abrupt pivot to streaming.

"There's so much money in linear, so it's better to try to maximize the income from all sources," she said. "This is a better business path compared to Disney, which is all-in on streaming."

Although, in the near term at least, ViacomCBS will be straddling past and present amid the ongoing transition from cable and linear TV to on-demand streaming – which has been happening faster among younger audiences – Redstone underscored that the strategy for ViacomCBS is the same as it's ever been.

"We are a pure-play content company," she told investors, pointing them to her late father's immortal adage: "Content is King."

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Standing Together Through the Flames

🔦 Spotlight

To our Los Angeles family,

This week’s wildfires have brought immense pain and hardship to our beloved city. Many of our friends, neighbors, and colleagues have faced evacuations, power outages, and the devastating loss of homes and livelihoods. Our hearts go out to everyone affected by this tragedy.

At dot.LA, we want to express our deepest sympathy to those suffering in this moment. We see your resilience and stand with you during this challenging time. This community has always been defined by its strength and compassion, and now is the time to come together in support.

If You or Someone You Know Has Been Impacted, Resources Are Available:

Evacuation Shelters:

  • Calvary Community Church: 5495 Via Rocas, Westlake Village, CA 91362
  • Ritchie Valens Recreation Center: 10736 Laurel Canyon Blvd., Pacoima, CA 91331
  • Pan Pacific Recreational Center: 7600 Beverly Blvd., Los Angeles, CA 90036
  • Westwood Recreation Center: 1350 Sepulveda Blvd., Los Angeles, CA 90025
  • Pasadena Civic Auditorium: 300 East Green Street, Pasadena, CA 91101
  • Pomona Fairplex: 1101 W McKinley Ave, Pomona, CA 91768
  • Stoner Recreation Center: 1835 Stoner Ave, Los Angeles, CA 90025

Animal Shelters:

Small Animals:

  • Agoura Animal Care Center: 29525 Agoura Rd, Agoura Hills, CA 91301
  • Baldwin Park Animal Care Center: 4275 Elton St, Baldwin Park, CA 91706
  • Carson Animal Care Center: 216 W Victoria St, Gardena, CA 90248
  • Downey Animal Care Center: 11258 Garfield Ave, Downey, CA 90242
  • Lancaster Animal Care Center: 5210 W Ave I, Lancaster, CA 93536
  • Palmdale Animal Care Center: 38550 Sierra Hwy, Palmdale, CA 93550

Large Animals:

  • Pomona Fairplex: 1101 W McKinley Ave, Pomona
  • Industry Hills Expo: 16200 Temple Ave, City of Industry, CA 91744
  • Antelope Valley Fair: 2551 W Avenue H, Lancaster, CA 93536
  • Los Angeles Equestrian Center: 480 W Riverside Dr, Burbank, CA 91506
  • Pierce College Equestrian Center: 7100 El Rancho Dr, Woodland Hills, CA 91371

Disaster Relief Information:

  • LA County Assessor: Information for property owners and FAQs about disaster relief.

Mental Health Support:

  • Los Angeles County Department of Mental Health: Crisis counseling and support for those affected. Access services through their website or call their hotline at (800) 854-7771.

Temporary Housing Support:

  • Airbnb: In partnership with 211 LA, offering free temporary housing for displaced residents. Spaces are limited; complete the form to be notified of availability.

Transportation Support:

  • Uber: Use promo code WILDFIRE25 for 2 free rides up to $40 each to/from active shelters.
  • Lyft: Code CAFIRERELIEF25 offers 2 rides up to $25 each for up to 500 riders, valid until 1/15.
  • Metro: Fare collection is suspended systemwide.

Staying Informed:

  • Watch Duty App: Provides real-time wildfire tracking, evacuation warnings, and updates.
  • Los Angeles Fire Department Alerts: Visit their website for the latest information on fire status and safety guidelines.

Safety Precautions:

  • Ready, Set, Go!: Personal Wildfire Action Plan by the Los Angeles County Fire Department.

To those in our community who are volunteering, donating, or offering aid in any form—thank you. Your efforts embody the spirit of LA: strong, compassionate, and unstoppable.

At dot.LA, we’re committed to amplifying stories of resilience and support. If you’ve seen inspiring acts of kindness or have resources to share, please let us know. Together, we can shine a light on the incredible ways this community is stepping up during these trying times.

In the days ahead, let’s hold tight to the bonds that unite us and remember that we are stronger together. The fires may scar the land, but they cannot dim the collective spirit of Los Angeles.

We’re here for you, and we’re with you.

    Download the dot.LA App

    A Strong Finish to 2024 for LA Tech: Crosscut Ventures Leads the Way

    🔦 Spotlight

    Happy Friday LA!

    As we close the book on 2024, Los Angeles has had a remarkable year in tech and venture capital. From groundbreaking funding rounds to industry-defining innovations, the city’s tech ecosystem has showcased its ability to adapt and thrive. Among the year’s final highlights was the announcement that Crosscut Ventures, one of LA’s premier early-stage venture capital firms, has added Jon Ylvisaker as its newest Partner.

    Crosscut Ventures’ Bold New Direction

    Announced in late December, Jon Ylvisaker’s appointment reflects Crosscut Ventures’ commitment to advancing its focus on the energy transition. Ylvisaker brings decades of experience in driving investments in energy technologies and digital infrastructure. As the founding partner and managing director of Yield Capital Partners, he led investments in startups and established companies shaping the future of sustainability. At Wolfacre Global Management, a Tiger Management hedge fund, he further honed his expertise in supporting impactful climate-focused solutions.

    Brian Garrett, Managing Director and Co-Founder of Crosscut Ventures, said, “Jon's extensive experience in climate and digital infrastructure investments, coupled with his impressive track record of bringing groundbreaking technologies to market, makes him the ideal partner to help lead our focus.”

    Since its founding in 2008, Crosscut has played a key role in shaping LA’s tech landscape. Ylvisaker’s addition reinforces the firm’s commitment to addressing global challenges like energy transition and sustainability, further solidifying its leadership in venture capital innovation.

    What’s Next for LA Tech in 2025

    The momentum from 2024 has set the stage for an even bigger year ahead. Entrepreneurs, investors, and innovators in LA are poised to take on new challenges and create meaningful change across industries.

    As we step into 2025, we want to thank everyone who helped make 2024 such a standout year. Here’s to another year of progress, innovation, and success. From all of us at dot.LA, Happy New Year!

    🤝 Venture Deals

    LA Companies

    • First Resonance, a company specializing in digital manufacturing software through its ION Factory OS, has raised a $20M funding round led by Third Prime with participation from Blue Bear Capital and others. This brings its total funding to $36M and will be used to accelerate product development, grow its customer base, and enhance support for advanced manufacturing sectors like aerospace, robotics, and clean energy. - learn more
    LA Venture Funds
    • Finality Capital Partners led a $17M Seed funding round for ChainOpera AI, a California-based company developing blockchain networks for AI-powered agents and applications, to accelerate product development, expand its team and enhance its blockchain and AI integration capabilities. - learn more

    LA Exits

    • Thirteen Lune, an inclusive beauty e-commerce platform, has been acquired by SNR Capital, marking a significant milestone in the platform's mission to amplify underrepresented beauty brands while fueling its next stage of growth. - learn more
    • Ergobaby, a leading brand in juvenile products known for its high-quality baby carriers, has been acquired by Highlander Partners. The acquisition aims to bolster Ergobaby’s growth, expand its product offerings, and strengthen its position in the parenting solutions market. - learn more

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    Salt AI’s $3M Bet, Snapchat’s Creator Cash, Rivian’s EV Tech, and ŌURA’s $200M Win

    🔦 Spotlight

    Happy Friday, LA - let’s dive right in to this week’s highlights:

    Salt AI, a forward-thinking AI startup based in Los Angeles, has secured a $3 million seed funding round led by Morpheus Ventures with participation from Struck Capital, among others, to tackle the complexity of managing workflows.Salt AI's blog details how its platform centralizes tools like CRM systems, project management software, and data trackers into one interface, eliminating inefficiencies and freeing up teams to focus on meaningful work. With new funding in hand, Salt plans to scale its platform and expand its reach, a move that underscores how AI can solve everyday business challenges.

    Image Source: Salt AI - Aber Whitcomb

    While Salt AI focuses on the workplace, Snapchat is doubling down on creators, with its latest updates introducing revenue-sharing opportunities and direct monetization features. The company’snewsroom update outlines how enhanced analytics will help creators better understand their audiences and sustain their work. The platform's latest updates introduce revenue-sharing opportunities and direct monetization features, along with analytics that give creators deeper insights into their audience. By making it easier for creators to grow and sustain their work, Snapchat positions itself as a key player in the creator economy, offering features that rival platforms like YouTube and TikTok.

    Image Source: Snap

    On the roads, Rivian is redefining what it means to drive an electric vehicle. The company’s latest software update includes advanced route planning, energy management tools, and customization options that make every trip more intuitive and efficient. Additionally, Rivian has introduced new entertainment features, including Google Cast, YouTube, and SiriusXM, as featured in Rivian’ssoftware spotlight, enhancing the in-cabin experience for drivers and passengers alike. This isn’t just about convenience; Rivian is showing how thoughtful software design can elevate the entire EV experience, blending practicality with sophistication.

    Image Source: Rivian

    ŌURA is making headlines with a fresh $200 million Series D funding round, with participation from Fidelity Management & Research Company and Dexcom, which now values the company at $2.55 billion. This investment, as reported byBusiness Wire, highlights the growing demand for wearable health technology and positions ŌURA as a leader in the space. With its sleek design and emphasis on actionable health insights, the funding will enable ŌURA to expand its reach and further integrate wearables into daily health management, strengthening its position in the competitive health tech market. With this funding, ŌURA aims to reach more users and expand its capabilities, further embedding wearables into daily health management.

    Image Source: ŌURA

    Stay tuned as Salt AI, Snapchat, Rivian, and ŌURA continue to evolve, offering us new ways to work, connect, and live better.

    🤝 Venture Deals

      LA Venture Funds
        • Undeterred Capital participated in a $7M Seed funding round for Portal, a Watertown, Mass.-based biotech company specializing in advanced intracellular delivery technology to drive innovations in biological research and cellular therapeutics. - learn more
        • Vamos Ventures participated in a $7.9M Series A funding round for Culina Health, a Hoboken, NJ-based company that provides personalized, science-based virtual nutrition care by connecting patients with registered dietitians, with plans to use the funds to expand its offerings for dietitians and patients, implement AI-driven tools to enhance care efficiency, and strengthen its leadership team through key hires. - learn more
        • Humans Ventures participated in a $3.8M Seed funding round for Hamming.ai, a San Francisco-based company specializing in automated tools for testing and optimizing voice agents, with plans to expand its platform, enhance reliability and perform, and accelerate product development. - learn more
        • Fifth Wall led, with participation from Starshot Capital and others, in a $9.5M Series A funding round for Mojave, a Sunnyvale, CA-based company developing energy-efficient commercial air conditioning technology. The funds will be used to accelerate the adoption of its innovative systems and reduce energy consumption in the cooling industry. - learn more
        • ReMY Investors participated in a $17M Series B funding round for Scripta Insights, a company that leverages data analytics to help employers and healthy plans reduce prescription drug costs, with the funds aimed at expanding its platform and scaling operations. - learn more
        • Mantis VC participated in a $16.5M funding round for Nuon, a company specializing in Bring Your Own Cloud (BYOC) solutions that streamline AI, data, and infrastructure software deployment. The funds will support product development, readiness for general availability in 2025, and efforts to expand customer acquisition. - learn more
        • B Capital participated in a $102M Series C funding round for Precision, a company developing minimally invasive brain-computer interfaces to treat neurological disorders, with plans to use the funds to expand its team, advance clinical research, and refine its AI-powered brain implant for helping users with severe paralysis operate digital devices using their thoughts. - learn more
        • The Games Fund led a $3M Seed funding round for Dark Passenger, a Poland-based game studio founded by veterans of The Witcher 3 and Cyberpunk 2077, to create an unannounced, innovative, first-person multiplayer PvPvE stealth-action game set in a distinctive universe inspired by feudal Japan and martial arts cinema. - learn more

            LA Exits

            • Calliope Networks, a generative AI company providing licensed media content like movies, TV shows, and news, has been acquired by Protege to strengthen its platform’s capabilities in advancing AI development. - learn more

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