Paramount Considers Sale of Noggin to Focus Streaming Efforts on Paramount+, Pluto TV
The streamlining of Paramount’s direct-to-consumer (DTC) video platforms is continuing. According to a Wall Street Journal exclusive, the company is exploring a possible sale of a majority stake in Noggin, its subscription video service geared towards kids aged two to seven.
Paramount wants to retain a minority stake in Noggin, as it sees potential to transform the service into more of a destination for interactive learning. Now, it must find a partner willing to bankroll the transformation. Currently, the service is home to adored kids series like “Peppa Pig” and “PAW Patrol,” which can also be found on Paramount+.
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According to the report, these efforts to pare back the company’s streaming offerings are made with the intention of prioritizing Paramount+, as well as the free streaming service Pluto TV. Paramount has been making other moves in this direction; the company is also considering selling a majority of its shares in BET Media Group, which includes cable channels BET, BET Her and VH1 as well as the streamer BET+. Since the launch of Paramount+, we’ve speculated why the company hasn't simply collapsed all its assets under one streaming umbrella.
The company turned down an offer to sell the cable channel/streaming platform bundle Showtime, but that package will undergo some big changes as well. Its content will be merged onto the Paramount+ Premium tier later this year to form a new product called “Paramount+ with Showtime.”
The focus on Paramount+ and Pluto are likely a wise move by company executives. Pluto now boasts 79 million monthly active users, making it one of the largest ad-supported video-on-demand (AVOD) platforms in the industry. Nearly 64% of Americans now use an AVOD service, and watch an average of one hour of ad-supported video every day.
Paramount+ is similarly on the rise. The service added nearly 10 million paid subscribers in the fourth quarter of 2022, at a time when industry giants like Disney+ are losing active users. Popular new shows from the mind of Taylor Sheridan like “1923” and live sports like NCAA March Madness have kept users flocking to Paramount+.
Paramount Plus
Paramount+ is a subscription video streaming service that includes on-demand access to 40,000+ TV show episodes from BET, CBS, Comedy Central, MTV, Nickelodeon, Nick Jr. and more. The lineup includes “1883,” “Tulsa King,” “Star Trek: Discovery,” Nickelodeon’s “SpongeBob SquarePants,” and “PAW Patrol.” Subscribers can watch the NFL, college football, The Masters, college basketball, UEFA Champions League, UEFA Europa, Serie A, and NWSL. The service also offers the option to watch your live CBS affiliate. The upgraded ad-free package includes premium movies and shows from Showtime.