The service will also be expanded to serve more countries and host new original series.
CBS All Access launched in 2014, relatively early for a streaming service compared to its competitors, and has around eight million subscribers.
CBS and Viacom merged again in late 2019 to become ViacomCBS, having been joint before parting ways in 2006.
Now, the company has announced that it will rebrand CBS All Access in early 2021 to become Paramount+.
Along with the rebranding, the streaming service will also launch internationally. It would debut in Australia, Latin America and the Nordics, before expanding soon after.
The name change is intended to reflect the broader content the service will now offer. In a ViacomCBS press release, President and CEO Bob Bakish said:
CBS All Access is currently $5.99 at its lowest ad-supported tier, but it's unclear if prices will change with Paramount+'s name change.
Existing CBS All Access movies and shows will remain on Paramount+, but the service will also expand with new original series.
This includes a series based on the production of The Godfather, a spy drama and a true crime docuseries.
Nickelodeon, which is owned by ViacomCBS, will provide children's content in the form of a new SpongeBob SquarePants series and movie.
With the Paramount+ rebrand, the service will offer a combined collection of more than 30,000 episodes and movies from its brands such as BET, Comedy Central and MTV.
The number of streaming services available continues to grow. Competitive prices and standing out with attractive content will be essential.
For some, Netflix is no longer the best option. Will Paramount+ have a chance to claim the crown?
