ViacomCBS sets its sights on streaming and its international expansion, renaming itself Paramount Global

From this February 16, ViacomCBS will be renamed Paramount Global, bringing together its portfolio of premium entertainment brands under the umbrella of the iconic Paramount brand.

Shari Redstone, non-executive president of the company's Board of Directors, summarizes this change by stating that “Paramount is an idea: A promise to be the best.” “That promise has always been at the heart of what we aspire to build as stewards of more than a century of cinematic excellence, and with businesses and brands that have defined and redefined entertainment for generation after generation. “We have made enormous progress, and I have never been more excited about the future of this company,” she added.

“Paramount's iconic peak represents a rich history for our company as pioneers in the Golden Age of Hollywood. “Today, by adopting the Paramount name, we are pioneers of a new and exciting future,” he highlighted. Bob Bakish, president and CEO.

In addition to the name change, the company detailed plans to accelerate the global momentum behind Paramount+, unveiling new content, enhanced product offerings and continued international expansion.

“We see a huge global opportunity in streaming, a potential market much larger than what linear television and cinema can capture alone,” Bakish emphasizes. “We are excited about our ability to not only compete, but thrive, creating significant value for both consumers and shareholders.” As? Because we are broader in four key areas: our content diversity, streaming model, platform mix and global reach. Looking ahead, the size of the opportunity we see is only matched by our ambition to seize it.”

Other articles on Paramount, ViacomCBS