Paramount buys Tyler Perry out of BET+; will merge it with Paramount+
Paramount buys Tyler Perry out of BET+; will merge it with Paramount+
Paramount is consolodating two of its existing streaming assets as it prepares to add HBO Max to the fold.
Paramount Skydance has a lot of plans for its streaming future, but one of its legacy services no longer has a place in those plans — at least, as a standalone app. BET+ will cease to exist as an individual streaming service, and its content library will be folded into Paramount+ in the coming months as Paramount consolidates its streaming assets.
Key Details:
- It’s a deal: Paramount has bought out Tyler Perry’s stake in BET+.
- All aboard: The company can now conbine BET+ with Paramount+, as it intends to do with HBO Max.
- Question answered: Paramount has been mulling what to do with BET+ for many months.
Deadline was first to report that Paramount has purchased Tyler Perry’s stake in BET+. Financial details have not been revealed, but Perry’s portion of the company was believed to be worth tens of millions of dollars. Now, Paramount has total control over BET+, its linear counterpart, and other connected assets.
“We share the same ambition to expand the reach of BET content, and Tyler will continue to be a valued and important partner through his overall programming agreement,” Paramount told Deadline in a statement.
The move leaves Paramount free to combine BET+’s content library with that of Paramount+. That will occur at the beginning of June and will see more than 1,000 hours of original movies, TV series, and specials merged with the Paramount+ catalog.
Paramount is quite serious about consolidating its streaming assets, and even has designs to do so with a service it hasn’t fully acquired yet. The company is in the process of purchasing Warner Bros. Discovery, and will combine the HBO Max streaming service with Paramount+ if/when that deal closes.
Paramount tried more than once to sell BET+ and its companion assets in 2023, but a deal never materialized. Eventually, the company decided to simply keep BET in the fold, and now its ultimate fate has been determined.
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BET+
BET+ is an online streaming service from BET Networks, launched as a joint venture with Tyler Perry Studios. As one of the largest online subscription video-on-demand services focused on the Black audience and lovers of Black culture, BET+ features more than 1,000 hours of premium content including new, exclusive programming, iconic TV series, movie favorites, as well as documentaries, and specials from BET Networks. BET+ offers original programming from Tyler Perry, including his plays, series, and box office hits.
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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. Get free access with a Walmart+ subscription.
Paramount+ includes “1883,” “Tulsa King,” “Star Trek: Discovery,” “SpongeBob SquarePants,” and “PAW Patrol.” Subscribers can watch the NFL, college football, The Masters, college basketball, UEFA Champions League, UEFA Europa League, 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.
