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Speaking on an investor call on Monday outlining his broader business plan, Paramount CEO David Ellison confirmed that streaming services HBO Max and Paramount+ will be combined into one direct-to-consumer service.
The merging will take place should Paramount Skydance’s acquisition of Warner Bros. Discovery be completed, as the deal still faces a number of regulatory hurdles.
Ellison said: “We do plan to put the two services together, which today gives us a little over 200 million direct-to-consumer subscribers. We think that really positions us to compete with the leaders in the space.”
He adds that Paramount is already working to have consolidated Paramount+, its FAST platform Pluto TV, and BET+ under one unified stack by mid-2026 and “you can see us taking a similar approach to [HBO Max] going forward.”
The aim is “to compete with the most scaled players in DTC” – putting them in direct competition with majors like Netflix, Disney+ and Amazon Prime.
Ellison claims the HBO brand will continue to “operate with independence… our viewpoint is HBO should stay HBO, they are a leader in the space, and we just want them to continue doing more of it”.
The merged company is expected to carry approximately $79 billion in debt, with $6 billion in cost-cutting planned. They will also continue licensing movies and TV shows to other studios and platforms.
Ellison also reaffirmed a commitment to both studios, aiming to theatrically release around 15 films per year, each with a 45-day theatrical window.
Source: THR
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