HomeInvesting NewsThe launch of Comcast-Paramount Joint Venture SkyShowtime Is on September 20

The launch of Comcast-Paramount Joint Venture SkyShowtime Is on September 20

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Comcast (NASDAQ:CMCSA)

SkyShowtime, a co-production between Comcast (NASDAQ:CMCSA) and Paramount Global, will debut on September 20 in Denmark, Finland, Norway, and Sweden. When it comes to these regions, SkyShowtime will take the place of Paramount+.

In Finland, the price of SkyShowtime will be €6,99; in Sweden, it will cost SEK 79; in Norway, it will cost NOK 79; in Denmark, it will cost DKK 69. Allente, RiksTV, Ruutu, Sappa, Strim, Telenor, Tele2, Telia, Telmore, YouSee from Nuuday Group, TV 2 Play, and others will distribute SkyShowtime across the Nordics.

The rollout of the streaming service is scheduled for the final quarter of this year in the Netherlands. SkyShowtime will roll out in nations like Spain, Portugal, Andorra, and Central & Eastern Europe beginning in the first quarter of 2023.

SkyShowtime Can Expect Tough European Competition

According to Statista, the European video streaming market will grow at a CAGR of 14.02% between 2022 and 2027, reaching $26.07 billion by the end of that forecast period.

SkyShowtime, despite its robust content library, will likely face intense competition from global giants like Netflix (NASDAQ:NFLX) and Amazon (NASDAQ:AMZN), as well as regional players like NENT Group (Nordic), IPLA (Poland), Streamz (Belgium), and RTL’s Videoland, Viaplay (Netherlands).

Netflix’s success is a direct result of the company’s efforts to produce content for specific regions. Reports in Deadline reference research by Ampere Analysis that claims Netflix creates nearly 30% of its European content in-house.

With only 408 new titles or the removal of 953 non-European titles, Netflix in the United Kingdom is almost at its 30% goal.

Amazon is also increasing its output of regional programming. The market share has risen above 30% in Germany, Switzerland, and Italy and is close to 27% in the UK.

Nevertheless, SkyShowtime guarantees hundreds of hours of outstanding entertainment, including the exclusive television premieres of first-run theatrical blockbusters from Paramount’s studios, Paramount Pictures and Universal Pictures.

The content collection of Universal Pictures, Paramount Pictures, Nickelodeon, DreamWorks Animation, Paramount+, SHOWTIME, Sky Studios, and Peacock will also be available on SkyShowtime, along with new premium scripted series, kids, and family programs.

Shares of Comcast: What to Anticipate in 2022

Comcast’s (NASDAQ:CMCSA) stock performance has lagged behind that of Netflix but has topped that of Apple (AAPL), Amazon (AMZN), Disney (DIS), and Paramount (DIS).

By comparison, Apple is down 12.3%, Amazon is down 23.5%, Disney is down 28.2%, Paramount is down 23.4% this year, and Comcast is down 29%. Shares of Netflix have dropped 62.5% so far this year.

Growing demand for the Peacock streaming service is good news for Comcast (NASDAQ:CMCSA). An increase in wireless customers has been a boon to the firm. In this regard, Comcast’s intention to upgrade to DOCSIS 4.0 is notable. This Zacks #3 (Hold) company will be able to grow much more quickly and cheaply than its rivals, thanks to the technology. A rise in ticket sales and theater attendance is good news for Comcast’s bottom line.

Featured Image – Megapixl © Muladhara

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