Media company ViacomCBS is in plans to release a new streaming service on top of CBS' video-on-demand arm, CBS All Access, according to CNBC. It has been reported that the company is looking to create a streaming service that will bring together both CBS All Access and Viacom assets. This includes channels such as Pluto TV, Nickelodeon, BET, MTV, Comedy Central and Paramount Pictures. The article stated that ViacomCBS is considering to launch the service with advertisements, and provide both an ad-free version and premium version to consumers.
Further discussions are expected to happen on 20 February, said CNBC, in which it will "reveal statistics about total paid subscribers for its existing streaming services and give revenue figures for the first time".
CBS launched CBS All Access in October 2014, and are looking at competitors such as Netflix, Disney+, Apple TV+, as well as upcoming streaming services such as NBCUniversal’s Peacock and AT&T’s HBO Max. Last year, CBS Corp and Viacom merged to form ViacomCBS Inc., with the combined company having more than US$28 billion in revenue. This comes more than 10 years after the two companies first split in 2005.
Streaming services are gaining popularity recently. A recent report by global tech market advisory firm, ABI Research has said that the over-the-top (OTT) video market will surpass US$200 billion by 2024, with 90% of that value fueled by subscription and advertising revenue.
Closer to home in Southeast Asia, media company mm2 Entertainment is looking to launch its content streaming service mPlay Asia in April 2020. The services will run in key Chinese-speaking markets such as Singapore, Malaysia, Taiwan and Hong Kong. Astro Malaysia has also partnered with Chinese online entertainment service iQIYI last year, a few months after both parties inked a partnership to exclusively deliver iQIYI content on TV, on-demand and OTT in Malaysia.
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