Paramount Buys Out Tyler Perry’s Stake in BET+, Will Fold Streamer Into Paramount+
Paramount has bought out Tyler Perry Studios’ stake in BET+ as the streaming service is set to be folded into Paramount+ in June.
The streamer will become the home of more than 1,000 hours of BET+ content, including originals, series and movies such as “The Ms. Pat Show,” “All The Queen’s Men,” “Zatima,” “Average Joe” and “Diarra From Detroit.”
“This powerful next step ensures the stories we champion, the creators we support and the culture we represent go further than ever before,” BET Networks President Louis Carr said in a memo to staff. “Our celebrated Black storytelling will live alongside Paramount’s premium series, sports, specials and films, where it will be clearly branded, prominently featured and easy to find in the BET Hub. BET is a cornerstone of Black culture and an essential part of Paramount’s portfolio and long-term content strategy.”
As part of the evolution, a Paramount spokesperson said that the company acquired Tyler Perry Studios’ equity stake in BET+. Financial terms of the deal with Perry were not disclosed, though Deadline reports that Perry’s stake was believed to be 25% and valued at tens of millions of dollars.
“We share the same ambition to expand the reach of BET content, and Tyler will continue to be a valued and important partner through his overall programming agreement,” the Paramount spokesperson added.
Perry has been a minority owner in BET+ since the platform’s 2019 launch. In 2023, he made a bid to acquire a majority stake in the BET Media Group division from Paramount Global, though the company’s previous leadership reversed course on a sale.
BET+ is the latest brand to be folded into Paramount+, following Showtime in 2023. That offering was later rebranded from Paramount+ with Showtime to Paramount+ Premium.
BET+ is estimated to have close to 3.5 million subscribers, while Paramount+ has 79 million subscribers, excluding free trialers. BET+ Essential is currently available for $5.99 per month and BET+ Premium is available for $10.99 per month, while Paramount+’s Essential and Premium tiers are available for $8.99 and $13.99 per month, respectively.
The move comes as Paramount CEO David Ellison previously said the company would put Paramount+, Pluto TV and BET+ on the same backend infrastructure, which is on track to be completed in mid-2026. It also follows a restructuring of BET Media Group in December.
Additionally, Paramount is set to acquire Warner Bros. Discovery in a $110 billion merger deal expected to close by Sept. 30, which would put their combined streaming reach at around 200 million subscribers. Ellison has said that Paramount+ and HBO Max would be combined into a single platform. Merging the two services’ technology stacks will be one of the areas where Paramount expects to find efficiencies to generate more than $6 billion in cost savings.
Carr noted that the BET linear channel would continue to have a “strong presence” and said BET Studios would remain “fully active.”
He also said BET Digital remains “central” to the company’s multi-platform strategy and that the brand has expanded its reach, increased engagement and introduced its content to new viewers through the grow of its free, ad-supported streaming TV (FAST) channels.
“What I want you to take away today is this: BET remains strong because of you, your creativity, your resilience and your unwavering belief in the power of our stories,” Carr’s memo concluded. “This moment is about growth and about ensuring BET’s voice continues to shape culture at an even greater global scale. Thank you for everything you’ve done and continue to do to move this brand forward.”
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