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US media companies said on Wednesday they plan to launch a subscription-based streaming service in more than 20 European regions next year, reaching 90 million homes.
The joint venture, called SkyShowtime, emerges as media companies seek to expand their streaming services in the US and internationally, where there are competitors like Netflix. company
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Disney+ has grown exponentially. Netflix saw subscriber growth slow in the second quarter to just 1.5 million new subscriptions, from 10 million in the same quarter last year. In the US and Canada, Netflix lost 400,000 customers.
SkyShowtime will combine content from NBCUniversal, Universal Pictures and Peacock from Comcast and UK-based Sky with Showtime, Nickelodeon, Paramount Pictures and Paramount + Originals from ViacomCBS, among other brands. The streaming platform will provide more than 10,000 hours of entertainment from these content providers.
The Wall Street Journal previously reported that Comcast CEO Brian Roberts and ViacomCBS President Shari Redstone met earlier this summer to discuss a potential broadcast partnership in international markets.
Cable giant Philadelphia announced last month that it will make Peacock, its one-year streaming platform, available to Sky’s 20 million customers across Europe at no additional cost. Comcast acquired Sky in 2018 for $38.8 billion, with the goal of growing the company internationally.
Shortly thereafter, ViacomCBS announced a partnership with Comcast’s Sky to distribute its Paramount+ service in various European markets. The deal made Paramount+ free to Comcast Sky Cinema subscribers in Sky markets including the UK, Switzerland, Italy and Germany.
However, SkyShowtime will not interfere with these markets. Instead, it will be available in European markets such as Spain, Portugal, Norway, Sweden, Netherlands, Croatia, Albania, and others.
The two companies said the partnership, which includes the same investment and joint control of the two companies, will be based in London and led by its own management team. Pricing and other details have yet to be announced.
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