ViacomCBS has signed a deal with Canal Plus to launch its streaming service Paramount Plus in France.
Paramount Plus will be available to all Canal Plus Ciné Séries subscribers later this year.
Audiences will also have direct access to the streaming service via the Paramount Plus app (iOS and Android) and via connected TVs and OTT platforms.
As part of the deal, Canal Group will also distribute nine ViacomCBS channels, including Nickelodeon, MTV, Paramount Channel, and Comedy Central.
“[This] marks an important milestone for our streaming growth story. After the UK, Italy, and Germany, the new strategic partnership with Canal Plus accelerates our expansion in Europe with the launch of Paramount Plus in France in 2022,” said Raffaele Annecchino, president and CEO, ViacomCBS Networks International.
“We are strategically creating a streaming model for long-term growth, rapidly gaining a solid footprint across all the major European countries. Our SVoD premium services allow us to expand our streaming business in more than 60 markets, as we build our momentum toward expanding Paramount Plus in all the markets across the world.”
The company said since launch, Paramount Plus has exceeded its goals and is ahead of schedule.
As a result of its streaming momentum and incremental investments, ViacomCBS is raising its global streaming subscriber goal from 65-75 million global streaming subscribers to more than 100 million subscribers by year-end 2024. The company is also raising its 2024 DTC revenue goal from $6 billion to $9 billion.
“In just one year, Paramount Plus has outperformed all expectations,” said Naveen Chopra, EVP, chief financial officer. “Our powerful content, marketing and distribution engines drove explosive growth as further proof of our ability to establish a sustainable, large scale streaming business with a differentiated global playbook.”
Shortly after announcing the deal with Canal Plus, ViacomCBS announced it will be rebranding as Paramount.