Paramount+ will be getting an increased content investment under new leadership, but streaming movies are out. “Made for streaming movies are not a priority for me,” Paramount chair of direct-to-consumer Cindy Holland told reporters at a press conference on Wednesday on the Paramount lot.
The streaming chief’s comments came after her boss, CEO David Ellison, said he’d be increasing the company’s investment in streaming content — specifically series.
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“We’re going to significantly scale the amount of content that we are producing on streaming services as well as at our film studio,” Ellison said.
Holland added: “To get the required engagement, we need more content. We’re going to invest in content.”
But that content will not be original streaming films, as Paramount+ looks to follow in HBO Max’s footsteps in scaling back production of the direct-to-streaming movies that became prevalent during the streaming boom. Those films had already become fewer in number before Skydance bought Paramount, but as Ellison laid out his plans for the company’s film output on Wednesday he made clear they’re going all-in on theatrical.
During the press conference, Paramount’s new leadership said it has a goal of producing up to 20 films per year in a dramatic ramp up of its movie output for theaters.
As for what the investment on the Paramount+ side will look like, Holland underlined the importance of creating more four-quadrant content to expand beyond the streamer’s popular Taylor Sheridan dramas and “Star Trek” series.
“We want to entertain all audiences around the world on Paramount+ today,” she said. “We have a really great foundation, which is the Taylor Sheridan universe. We also have incredible CBS next-day, live sports, a lot from the cable networks, franchises like ‘Star Trek,’ so many series. We’re seeking to expand that and make sure that we’re offering programming for everybody not just occasionally, not just for the one thing but hopefully, a daily habit for all audiences.”
The post Paramount+’s New Streaming Chief Says They’ll Invest Heavily in Series: ‘Streaming Movies Are Not a Priority’ appeared first on TheWrap.
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