ViacomCBS plans to launch its Paramount Plus service in March.

ViacomCBS plans to launch its Paramount Plus service in March. Photo by Ringo Chiu.

Media conglomerate ViacomCBS will launch its newest streaming service, Paramount+, in Australia and New Zealand on Aug. 11, and the company plans a dramatic increase in the number of movies available on the platform.

Paramount+ will cost $6.75 per month Down Under and it will feature 20,000 films and television episodes. ViacomCBS currently owns Australian network Channel Ten and its online streaming service, 10 All Access, which have a combined reach of 10 million to 12 million viewers. 10 All Access will be folded into Paramount+, the company said.

“We are poised to become as powerful a player in streaming as we are in television,” said Beverley McGarvey, chief content officer and executive vice president of ViacomCBS Australia and New Zealand.

Paramount+ launched in the U.S. and Latin America on March 4 with content from several ViacomCBS brands, including Nickelodeon, MTV, ComedyCentral and Hollywood-based Paramount Pictures Corp.

ViacomCBS also plans to add 1,000 movies to the Paramount+ library in June, and the company expects to release one new film per month on the service starting in 2022.

Paramount+ is a rebranded and expanded version of the CBS All Access subscription service, which offers video-on-demand and live streaming to 9 million subscribers. To bolster its offerings for Paramount+, Paramount Pictures slashed the theatrical window for its movies to between 30 and 45 days.

ViacomCBS gained traction in streaming in the first quarter. Across its platforms, the company gained 6 million subscribers to reach a total of 36 million. Streaming revenue jumped 65% year over year from $494 million to $816 million, which was driven by the launch of Paramount+.

“In Q1, we accelerated our expansion in streaming with the launch of Paramount+, further enhancing ViacomCBS’ ecosystem of premium, pay and free services,” ViacomCBS chief executive Bob Bakish said in the company’s May 6 earnings report. “The strong consumer response we have seen is evident in today’s numbers.”

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