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BET+ To Be Folded Into Paramount+ As Tyler Perry’s Stake Is Acquired By Paramount
EXCLUSIVE: And then there was one. Paramount, which three years ago had three SVOD platforms available in the U.S., will soon have only one. Paramount+ will absorb BET+ at the beginning of June, when more than 1,000 hours of BET+ content – originals, movies, and specials – will migrate to the flagship streamer.
The news was just shared internally by BET Networks President Louis Carr in a memo, a copy of which was provided to Deadline by a Paramount spokesperson.
“This powerful next step ensures the stories we champion, the creators we support and the culture we represent go further than ever before,” Carr wrote. (You can read his email in full below.)
Tyler Perry’s Minority Stake In BET+ Has Been Acquired By Paramount
Perry launched his first series with BET in 2019 and, in connection with the streaming platform, has produced more than 700 episodes, Deadline reports. His most recent deal was valued at nine figures with BET Media Group and is slated to conclude by 2028 and encompasses producing new and existing series for both BET and BET+, according to a separate article from Deadline.
Perry was a minority shareholder in BET+, with his stake estimated at 25%, which would amount to tens of millions of dollars, Deadline reports. Now, Perry’s stake is being acquired by Paramount. In June, BET+ will no longer exist as a standalone streaming service, and its more than 1,000 hours of content, spanning originals, movies, and specials, will move to Paramount+.
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Paramount Buys Out Tyler Perry Stake in BET+, Will Fold Streamer Into Paramount+
Streaming service BET+ is shutting down, and its programming will be folded into Paramount+, the company announced Friday.
Paramount Skydance has bought out Tyler Perry Studios’ equity stake in BET+, which will help facilitate the move. BET Networks president Louis Carr said in a memo to staff that the move will “ensure the stories we champion, the creators we support and the culture we represent [will] go further than ever before.” (Read the full memo below.)
The changeover will happen in June, when about 1,000 hours of BET+ programming will become part of Paramount+, including the Perry-produced All the Queen’s Men and Zatima, The Ms. Pat Show and the critically acclaimed Diarra From Detroit.
For more detailed information, explore updates concerning BET+ To Be.
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