South Park Creators Sign Mega Movie Deal With Paramount+ Streaming Service

Bloomberg News pegged the deal at $900 million (roughly Rs. 6,675 crores), which would make it one of the largest in television history.

South Park Creators Sign Mega Movie Deal With Paramount+ Streaming Service

Photo Credit: South Park Studios

South Park, set in small-town America is known for crude language and lampooning hot-button social issues

Highlights
  • Paramount+ streaming platform launched in March in the US
  • The deal also includes multiple new series of South Park 
  • Amazon in May agreed to buy MGM studios

South Park creators Trey Parker and Matt Stone signed a massive deal Thursday to make 14 movies of their enduring satirical cartoon for streaming service Paramount+, as Hollywood's frenzied scramble for online content accelerates.

While MTV Entertainment Studios - which like Paramount+ is owned by parent corporation ViacomCBS - did not release any financial figures, Bloomberg News put the deal at $900 million (roughly Rs. 6,675 crores), which would make it one of the largest in television history.

The Paramount+ streaming platform launched in March in the US in a bid to compete in a crowded and content-hungry marketplace led by the likes of Netflix, Disney+, and Amazon Prime.

In a statement, MTV Entertainment's Chris McCarthy said developing new content with "tremendous talent like Matt and Trey, is at the heart of our strategy to continue growing Paramount+."

The deal also includes multiple new series of South Park for television network Comedy Central, which will see the long-running satire reach its 30th year by 2027.

South Park, set in small-town America and known for crude language and lampooning hot-button social issues since 1997, has already spawned one film, multiple video games, and other merchandise.

"Comedy Central has been our home for 25 years and we're really happy that they've made a commitment to us for the next 75 years," said Parker and Stone in the joint statement.

"We can't wait to get back to doing traditional South Park episodes but now we can also try out new formats," they added.

While ViacomCBS did not immediately comment on the $900 million (roughly Rs. 6,675 crores) figure, it would put the deal on a par with Reese Witherspoon's sale of her Hello Sunshine company to a new private equity-backed media venture this week.

It also comes after Amazon in May agreed to buy MGM studios for $8.45 billion (roughly Rs. 61,500 crores).

Other streaming platforms recently launched by major media and tech companies to join the so-called "streaming wars" include HBO Max, Peacock, and Apple TV+, each seeking vast content libraries to attract and retain subscribers.

ViacomCBS said Wednesday that it had reached 42 million streaming subscribers. Current market leader Netflix has more than 200 million.


Is OnePlus cannibalising itself with the Nord 2 5G? We discussed this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Google, Amazon, and Microsoft Join US Cyber Team to Fight Ransomware

Related Stories

Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2021. All rights reserved.
Listen to the latest songs, only on JioSaavn.com