Four days after Netflix dropped out of the race to buy Warner Bros Discovery, it now faces stiff competition from Paramount’s supercharged all-in-one streamer.
- HBO brand to remain for US cable network
- Pledge to invest in technology behind Paramount+
- Confirmation that linear channels will not be spun off
Paramount Skydance boss David Ellison has confirmed his plans for Warner Bros Discovery to investors and analysts in a conference call held on Monday.
Ellison confirmed the company’s intention to combine HBO Max with Paramount+ in move designed to allow Paramount to “compete effectively with the leading streaming services in today’s marketplace”.
However, no concrete timescale beyond “the coming years” was mentioned. That means HBO Max and Paramount+ are expected to continue as separate services with little change expected until at least 2027. Existing deals with current distributors, including Sky in the UK, will help determine the speed of change.
Paramount+ and HBO Max currently have over 200 million subscribers worldwide. However, in most countries that figure will include customers that currently subscribe to both services. HBO Max launches in the UK on 26 March. The number is a fraction of Netflix’s 325 million global subscribers as of January 2026.
Ahead of the planned combination of both services, Paramount has promised to invest in the technology behind the scenes. According to Ellison, the company’s plans call for improvements that “keep people engaged with that platform for longer.” Paramount had already brought together Paramount+, Pluto TV and BET+ on to the same tech stack.
HBO brand remains
HBO Max’s days are numbered, but the HBO brand itself looks safe.
David Ellison confirmed he wanted the HBO cable network to retain its independent branding. Although streaming is becoming more important, many US subscribers continue to access the HBO service via traditional cable networks. HBO will become a sub-brand within Paramount+, similar to how Disney+ has sub-brands within its streaming service.
Linear spin-off aborted
Ellison also confirmed to investors that there would be no spin-off of linear channels. This includes WBD’s US cable network and other linear channels around the world.
As RXTV reported yesterday, it puts an end to plans by WBD that would have seen UK channels including Quest, TLC and Food Network being spun off into a separate business, which was to be called Discovery Global. TNT Sports in the USA would have been spun off whereas TNT Sports UK and other non-US sports assets would have remained with Warner Bros.
Paramount’s Chief Strategy Officer Andy Gordon told investors that he continued to see value in the linear networks and that the brands could be “invigorated” for a streaming world.
By: Marc Thornham