As Paramount+ settles in the streaming wars, they need to utilize Paramount’s movie library to buff up its content. But it isn’t easy for them to stream their movies.
Movie licensing deals are deals placed with companies to stream their content. Paramount’s licensing deal includes access to most of their theatrical release (TV movies are not included unless directed). Before Paramount+ launched, Paramount had licensing deals with almost every streaming service, including Netflix, HBO Max, Prime Video, and Peacock, among others. The service launched only with a select handful of movies.
To make matters worse, Paramount has a Pay 1 deal with MGM’s EPIX (now owned by Amazon) starting in 2006 after the original Viacom split with CBS and ending their agreement with Showtime becoming a part owner, alongside MGM and Lionsgate. In 2018, Lionsgate and Paramount left the venture, with the latter continuing their deal with EPIX.
Because Paramount+ needed more movies for their service, they had no choice but to reconfigure their 2018 deal with EPIX, extending it until the end of 2023. The revised agreement gave Paramount some of their upcoming movies a 45-day straight-to-streaming arrangement for Paramount+ and the sublicenses to the EPIX movie catalog, alongside Prime Video, which they took over from Hulu in 2022. EPIX still has access to their films after a few months on Paramount+ and gets the others that aren’t part of the deal.
Every other streaming service with Paramount movies already has a library deal with Paramount. A recent deal includes Peacock streaming “select” movies exclusively from 2021-2023. But, a 2019 Lionsgate SEC report notes that Paramount movies will leave Starz in August 2022. (Lionsgate has not revealed any agreement dates with any of its partners since)
Paramount promises that starting with their 2024 theatrical releases, Paramount+ will exclusively stream all of their new movies after 45 days (unless they push the streaming window). Its library agreements may still be in place, but it won’t be a huge problem.
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