CBS Studios and Paramount TV Studios Dividing Streaming Series Production: A Strategic Shift in Entertainment Distribution

Paramount Restructures Studios: ‘Star Trek,’ ‘Little House on the Prairie’ Remain with CBS, PTVS revived for Film IP

LOS ANGELES, CA – Paramount Global is enacting a meaningful restructuring of its studio operations, clarifying the future of key franchises and projects as it separates streaming and studio advancement. The move sees CBS Studios retaining control of established television properties while reviving Paramount Television Studios (PTVS) to focus on series based on Paramount Pictures’ film library and Miramax IP.

The most immediate impact: beloved series like Star Trek on Paramount+ and a potential reboot of Little House on the Prairie for Netflix will remain under the CBS Studios umbrella. This signals a continued commitment to these established television brands within the current streaming landscape.

However, the restructuring marks a return to form for PTVS. Previously absorbed into CBS Studios, PTVS will now reclaim the majority of its original slate, heavily weighted towards Paramount Pictures’ film properties. This includes developing new series based on titles from the paramount film catalog, as well as leveraging the extensive library of Miramax, in which Paramount holds a 49% stake.

Key Projects Staying Put:

Despite the shift, several projects are remaining with CBS Studios due to existing talent attachments. These include the highly anticipated galaxy Quest series and a Flashdance adaptation. Notably, the Clueless sequel series, featuring original star Alicia Silverstone and slated for Peacock, will also continue development at CBS Studios, despite being based on a Paramount film. CBS Studios had been actively developing the Clueless television adaptation for seven years prior to the restructuring.CBS Studios will also maintain its international co-production efforts, including the upcoming BBC drama King & Conqueror and Colin From Accounts for Binge/Paramount+.

Sheridan’s Universe Shifts, PTVS Broadens Scope:

The deal also impacts Taylor Sheridan’s expanding television universe. While Sheridan’s projects, including the Yellowstone spinoffs (Tulsa King, Landman, MobLand) and the drama Y: Marshals, are shifting from MTVE Studios to the newly empowered PTVS, the studio will also retain the ability to produce occasional broadcast shows like Y: Marshals and the reality series The Road. this demonstrates PTVS’s intention to be a versatile player, not solely focused on streaming content.

What This Means for the Future of Television:

This restructuring reflects a broader trend within the entertainment industry: a recalibration of strategies as streaming services mature and studios seek to maximize the value of their intellectual property. By clearly delineating the roles of CBS Studios and PTVS, Paramount aims to streamline development, reduce redundancy, and capitalize on the growing demand for content based on established franchises.The revival of PTVS specifically highlights the increasing importance of film IP in the streaming era. Studios are recognizing the potential to extend the lifespan and reach of their film properties by adapting them for television audiences.

The ongoing conversations between Paramount executives – George Cheeks, David Stapf, David Goldberg, and Brian Thunell – suggest further refinements are likely as the teams integrate and finalize the details of this significant organizational shift. This restructuring positions Paramount for a more focused and strategic approach to content creation in a rapidly evolving media landscape.

How does this restructuring affect the negotiating power of talent within the television industry?

The Restructuring: A Clearer division of Labor

In a significant move reshaping the landscape of television production, CBS Studios and paramount TV Studios have formally divided thier responsibilities for streaming series production. This isn’t a merger or acquisition, but a strategic realignment designed to streamline operations and capitalize on distinct strengths within Paramount Global. The core of the change? CBS Studios will primarily focus on producing content for Paramount+ and CBS, while Paramount Television Studios will concentrate on projects for other platforms – namely, third-party streamers like Netflix, Apple TV+, and Amazon Prime Video.This separation of duties aims to avoid internal competition and maximize revenue potential in the increasingly fragmented streaming market.

Why the Shift? Analyzing the Market forces

Several key factors drove this decision. The proliferation of streaming services has created a highly competitive environment. Paramount Global, like other media conglomerates, needs to optimize its content creation and distribution strategies.

Avoiding Content Conflicts: Previously, both studios were vying for the same streaming deals, potentially driving up costs and creating internal friction.

Platform-Specific strategies: Paramount+ requires a consistent flow of content to attract and retain subscribers. Dedicating CBS Studios to this task ensures a focused approach.

Maximizing External Revenue: Paramount Television Studios can now aggressively pursue opportunities with rival streamers, generating revenue that wouldn’t have been possible with the previous structure. This is particularly crucial as Paramount+’s subscriber growth has faced challenges.

Streamlining Decision-Making: A clearer division of responsibilities accelerates the growth and production process, allowing each studio to respond more quickly to market demands. This impacts television production companies and their agility.

CBS Studios: Doubling Down on Paramount+ & CBS

CBS Studios, historically known for broadcast television hits, is now firmly positioned as the engine driving content for Paramount+. Expect to see an increased investment in franchises and original series designed to bolster the streaming service’s subscriber base. This includes expanding existing universes like Star Trek and Halo, and also developing new, high-concept dramas and comedies.

Key areas of focus for CBS Studios include:

1. Franchise Expansion: Leveraging established IP for continued success on Paramount+.
2. Original Series Development: Creating exclusive content to attract new subscribers.
3. Linear TV Support: Continuing to produce content for the CBS broadcast network.
4. Co-Productions: Exploring opportunities to share production costs and risks with other studios for Paramount+ content.

this strategy directly addresses the need for streaming content creation and a strong, recognizable brand identity for Paramount+.

Paramount Television Studios: The Third-Party Powerhouse

Paramount Television Studios is now free to operate as a major supplier of content to the broader streaming ecosystem. This studio has a proven track record of producing critically acclaimed and commercially successful series for platforms like Jack Ryan (Amazon Prime Video) and 13 Reasons Why (Netflix).

The studio’s strategy revolves around:

Aggressive Dealmaking: Actively seeking out partnerships with all major streamers.

Diverse Content Portfolio: Developing a wide range of projects to appeal to different audiences.

Creative Freedom: Operating with greater autonomy to pursue innovative and risk-taking projects.

International Co-Productions: Expanding its reach through collaborations with international production companies.

This shift positions Paramount Television Studios as a key player in the autonomous television production sector.

Impact on Creators and Talent

This restructuring has significant implications for writers,directors,actors,and other creative professionals.

Increased Opportunities: The division of labor creates more opportunities for talent to work on a wider range of projects.

Studio Specialization: Creators can now target specific studios based on their project’s intended platform.

Negotiating Power: A more competitive market could potentially lead to better deals for talent.

Potential for Conflict: Navigating relationships with two distinct studios within the same corporate umbrella could present challenges.

Understanding these dynamics is crucial for anyone involved in television development and production.

case Study: The Halo Franchise

The Halo franchise exemplifies the new strategy. While the initial Halo series was