Skydance Media and RedBird Capital Partners executives shed some light on what strategy they intend to use to approach Paramount Global’s streaming business after Paramount and Skydance announced over the weekend they had reached a deal to merge. The executives said on Monday that their approach to the direct-to-consumer business would feature strategies like making technological improvements and looking into potential streaming partnerships.
Our intention is to rebuild the Paramount+ platform and believe that with the technological prowess and relationships that we have, we can expand our DTC business," Ellison said. He said the Skydance Investor Group wanted to improve Paramount+’s recommendation algorithms in a bid to "increase time spent on the platform, reduce churn and drive lifetime value for all of our shareholders.
The "New Paramount" also plans to weigh the possibility of entering partnerships with other streaming platforms, executives indicated. "We’re going to be evaluating all options to be a winner in DTC, and to be a winner in DTC really means being in the ultimate bundle that’s coming," Shell said. "We’ve got a bunch of inbound from a number of people about partnerships that could involve a partnership with another player or players, and so we will evaluate all that.
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