Move comes after US studio struck a deal to buy Tyler Perry’s 25% stake in the service
Paramount has agreed a deal to acquire Tyler Perry’s 25% stake in streamer BET+, with the US studio poised to move the service into its flagship Paramount+ offering.
BET+ was launched in 2019 prior to the streamer’s then parent company Viacom merger with CBS, which created Paramount Global. Financial details of the deal with Perry have not been revealed, but all BET+ shows will migrate to Paramount+ once the move takes place in June.
Paramount+ will be the “new home for BET+ content”, said BET president Louis Carr, who replaced former chief exec Scott Mills late last year.
In a note to staff, he described the move as a “powerful next step” that would “ensure the stories we champion, the creators we support and the culture we represent go further than ever before.”
Carr added that “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.”
He continued: “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. This moment is about growth and about ensuring BET’s voice continues to shape culture at an even greater global scale.”
The streamer’s standalone service costs $5.99 (£4.51) a month with ads ($9.99 (£7.53) without ads) and offers more than 1,000 hours of shows such as Average Joe and Diarra From Detroit.
Perry acquired his 25% stake in the service in 2019 when he agreed a production deal with Paramount. His current pact with the US studio runs until 2028.
Paramount said: “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.”
BET+ is not the first Paramount-owned streamer to migrate into the flagship service, with the Showtime service moved onto Paramount+ in 2023.
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