Sell a TV Show to Paramount+ Today? Agents Answer
Plus: State of writers on the Strikeversary
What an action-packed week for Paramount Global. It’s down one Bob but up an “Office of the CEO,” with a newly elevated trio of leaders to take it through an acquisition by Sony Pictures and Apollo Global Management, possible merger with Skydance — or, if neither happens, a trip back to the drawing board. The company has been in cost-cutting mode for some time, selling off certain stakes (Viacom18, Simon & Schuster), consolidating units and laying off hundreds over the past year.
The off-screen drama has impacted the reputation of the company’s subscription-streaming service, Paramount+, as a buyer of new content. P+, in particular, has been the subject of speculation regarding its future, with reports that Bob Bakish explored a partnership for it with Comcast-owned Peacock without informing Paramount’s board of directors. When Brian Robbins, George Cheeks and Chris McCarthy introduced themselves to investors last week, they articulated that one of Paramount’s goals moving forward is to “optimize our streaming strategy,” which leaves a lot of room for interpretation, especially given that Paramount+ lost $286 million in the first quarter of 2024.
Paramount+’s reputation around town has been that of a forgotten streamer amid its current corporate upheaval. In talking to agents recently about what Netflix and Disney+ and other studios and streamers want, Paramount+ was never top of mind in such conversations, despite a relatively healthy viewer base — as of Monday, the streamer has more than 71 million global subscribers.
“They seem to be very focused on IP,” one TV lit agent told me the other week, nodding to the Star Trek and Yellowstone franchises. “I call them because I call everyone, because I’m not one to waste opportunities. But they don't really take a lot of pitches; same with Showtime these days.”
In this week’s Series Business, you’ll learn:
What kind of shows Paramount+ is looking for, according to one TV agent
Paramount+’s brand challenge and how it affects how agents think of it
What Paramount execs could do to enable more opportunities — for its streaming service and for writers
How its recent M&A turmoil has impacted its reputation among sellers
Separately, May 2 marked the one-year anniversary of the start of the WGA strike, so Happy Strikeaversary. Today’s column also covers:
The “hell” that out-of-work writers are going through since the strike ended
What the WGA deal has done to help writers
How the current downturn could impact diversity gains
