[Asia Economy Reporter Seulgina Jo] Following Netflix and Disney Plus(+), Paramount+ also joined the online video service (OTT) war on the 4th (local time).
According to IT specialized media PhoneArena and others, the OTT Paramount+, launched by the major U.S. media group ViacomCBS, started its service in North America including the United States on this day. The service area is expected to gradually expand to Northern Europe this month and Australia within the year. Paramount+ is based on ViacomCBS's TV programs such as the police drama Blue Bloods, as well as content from MTV, Nickelodeon, Comedy Central, Paramount Pictures, and the Smithsonian Channel.
The OTT market has seen fierce competition among Netflix, Disney+·Hulu (Walt Disney), Peacock (NBCUniversal), and HBO Max (WarnerMedia) due to increased stay-at-home demand amid the COVID-19 pandemic. Netflix's global paid subscriber count exceeds 230 million as of the last quarter. Disney+ recorded 94.9 million paid subscribers last month, approaching the 100 million mark. Disney+ expects to secure 230 million to 260 million subscribers by 2024.
The latecomer Paramount+ offers a one-month free trial until March 31. After that, the subscription fee starts at $5.99 per month. The ad-free subscription service costs $9.99 per month. If subscribing on an annual basis, it is available at a discount of more than 15%. Additionally, it allows content to be viewed simultaneously on three devices.
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