(Bloomberg) -- Paramount Global and Comcast Corp. renewed their distribution agreement, allowing television channels like MTV, CBS and Nickelodeon to continue airing on Comcast’s Xfinity cable service.
As part of the multi-year deal, Comcast will offer qualifying Xfinity customers access to Paramount+ with Showtime, allowing them to use Paramount’s streaming platform and view content from the company’s Showtime cable network. Financial terms of the contract were not disclosed in a statement Tuesday.
“This new deal ensures that our dynamic portfolio of popular brands and premium programming continue to reach and entertain our valued audiences everywhere,” Ray Hopkins, president of Paramount Distribution, said in the statement.
John Dixon, senior vice president of entertainment at Comcast Cable, said the agreement “gives us the ability to offer customers more choice and flexibility in what they want to watch and how they want to watch it.”
As more media companies re-up their distribution agreements with cable providers, there’s been an emphasis on providing access to streaming platforms amid declines in traditional TV viewership. When Charter Communications Inc. and Warner Bros. Discovery Inc. renewed their distribution agreement in September, Charter’s Spectrum cable customers received free access to the ad-supported version of Warner Bros.’s Max streaming platform.
Paramount and Comcast are also undergoing significant changes to their corporate structures. Paramount is exploring combining all of its TV networks into one unit when it completes a planned merger with Skydance Media this year. Comcast is spinning off some of its cable networks, including MSNBC, CNBC and USA, while retaining NBC, Bravo and the Peacock streaming platform.
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