ViacomCBS (NASDAQ:VIAC) and Comcast (NASDAQ:CMCSA) are teaming up to launch a new streaming service called SkyShowtime and VIAC stock is on the rise.
We’ve got everything you need to know about the deal below!
- SkyShowtime is a subscription video-on-demand streaming service that is coming to more than 20 countries in Europe.
- That includes “Albania, Andorra, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Denmark, Finland, Hungary, Kosovo, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, and Sweden.”
- It will carry movies and original shows from NBCUniversal, Sky, and ViacomCBS.
- That includes content from channels such as SHOWTIME, Nickelodeon, Paramount Pictures, Paramount+ Originals, Sky Studios, Universal Pictures, and Peacock.
- ViacomCBS and Comcast are still waiting for regulatory approval before they can launch the service.
- However, the two companies are aiming to have SkyShowtime available across Europe in 2022.
- What’s still unknown is how much customers will pay for a subscription to the streaming service.
- We do know that SkyShowtime is being launched as a joint venture between ViacomCBS and Comcast.
- This will have them equally sharing investment and control of the platform.
Dana Strong, CEO of Sky, said the following about the news affecting VIAC stock today.
“Drawing on the strength of the incredible programming from NBCUniversal, Sky, and ViacomCBS, and powered by Peacock’s platform technology, SkyShowtime will provide a truly compelling lineup for the whole family and strong brand recognition across these regions.”
VIAC stock was up 6.4% and CMCSA stock was up slightly as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
