03 Apr VIACOMCBS changes name to PARAMOUNT GLOBAL
ViacomCbs is changing its name to Paramount. The company intends to adopt an iconic, globally and recognisable character. It will bring together all its entertainment brands, from CBS to MTV, Comedy Central to Nickelodeon, Paramount Pictures, Paramount+ and Pluto TV. The company will be increasingly focused on streaming to compete with giants like Netflix and Disney+. The Paramount+ platform currently gained over 56 million total subscribers globally. Its growth has exceeded the set targets at launch. The intention is to reach 100 million subscribers by the end of 2024. Despite these numbers, the stock has lost more than 20% on the stock exchange, and Wall Street is unhappy with the new strategy.
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