Comcast and Paramount Global reached a new carriage agreement ahead of the New Year, averting a channel black out over the holiday.
The new carriage deal between the cable operator and programmer was struck before a prior contract was set to expire December 31, 2023, a Comcast spokesperson confirmed to StreamTV Insider. The agreement is similar to the earlier deal in place, and as a result there are no changes to packages or networks provided to Comcast Xfinity customers. Paramount’s portfolio includes CBS, Comedy Central, Nickelodeon, MTV, BET, and Paramount Network, among other assets.
In 2023 Charter and Disney, following a dispute and temporary channel blackout (including ESPN) on the cable operator’s systems, reworked a new carriage deal that saw some linear networks dropped and the addition ad-supported versions of Disney direct-to-consumer apps in certain Charter Spectrum TV packages at no extra cost to consumers. It also included terms for a forthcoming flagship ESPN DTC product and Charter marketing Disney apps to its broadband-only customers, among other provisions.
The latest deal between Comcast and Paramount doesn’t include new aspects related to direct-to-consumer offerings, but separately Paramount leadership has been vocal about its openness to and the benefits of hard pay TV and other bundles. Paramount CEO Bob Bakish has previously noted the company already has deals in place with multiple U.S. operators that include credentials for its Paramount+ with Showtime SVOD in linear pay TV customer offerings.
The non-contentious carriage renewal meant no disruptions for Comcast video customers over the New Year holiday. Last year federal lawmakers were among those that expressed frustration over rising cable and satellite prices and several programming blackouts that have resulted in consumers losing access to news, shows and sports due to multiple disputes among various programmers and distributors over the last few years. For Paramount, the Comcast deal means a solidified pact with the nation’s largest cable operator (despite continued quarterly net video subscriber losses, Comcast still has a large pay TV base of nearly 14.5 million). Shoring up carriage deals could be good for Paramount, which has been the subject of recent M&A reports. That includes reported talks between Paramount and Warner Bros. Discovery CEOs in late December about a potential merger of the two media companies.