HBO Max and Paramount+ are combining into one streaming service

HBO Max and Paramount+ are combining into one streaming service, but details about how exactly it'll work are still a little thin.

Paramount CEO David Ellison spoke about his plans for the platforms during an investor call on Monday, with the announcement that his company has fended off Netflix in its bid to purchase Warner Bros. Discovery.

"We will combine the streaming portfolios of the two companies into one stronger platform over the coming years," Ellison said. "Across the two platforms, there are over 200 million DTC [direct to consumer] subscribers today and more than 100 countries and territories worldwide, positioning us to compete effectively with the leading streaming services in today's marketplace."

The $111 billion deal will see Paramount own 100 percent of WBD and value the company at $31 per share. The deal has "unanimously approved" by both company boards, but still has to get the green light from U.S. and European regulators. It's worth noting that Paramount sees the merger as "expected to close in Q3 2026", so it may be a while off yet.

"At Paramount, by the middle of this year," Ellison added later in the call, "we’ll have completed the consolidation of our three services under one unified stack, and you can see us taking a similar approach to this platform going forward. And we think the combined offering, and given the amount of content and what we can do from the tech side, really will put us in a position to be able to compete with the most scaled players in DTC."

As to how much the new combined platform will cost, all we can do is refer to the current prices. HBO Max offers three subscription plans starting with the Basic with Ads plan at $10.99 per month, or $109.99 per year. Paramount+ is cheaper and has two tiers: one with ads ($8.99 per month, or $89.99 per year) and one without ads ($13.99 per month, or $139.99 per year).

Ellison also highlighted what will be the combined Paramount/WBD catalogue including franchises "from Harry Potter to Top Gun, Star Trek to Looney Tunes, Game of Thrones to Yellowstone." In particular, Ellison said on the call that he plans for HBO to "be able to operate with independence."

"Our viewpoint is that HBO should stay HBO," he said. "They've built a phenomenal brand, they're a leader in the space, and we just want them to continue doing more of it. But by bringing the platforms together all of our content will be able to reach even a broader audience than we can do standalone."

When asked, Ellison said his favorite HBO show is Game of Thrones, so that's probably good news for House of the Dragon and A Knight of the Seven Kingdoms at least.