Paramount's founding and early years as a film studio
Paramount Pictures was founded in 1912 as the Famous Players Film Company by Adolph Zukor, a Hungarian immigrant who saw the future in motion pictures. Zukor merged his company with Jesse Lasky's production outfit in 1916, creating Famous Players-Lasky Corporation. The studio took the Paramount name from the mountain logo it used to identify its films, and that logo — a snow-capped peak surrounded by stars — still appears on Paramount content today.
In those early decades, Paramount was one of the "Big Five" studios that dominated Hollywood. The studio produced silent films and then transitioned to sound pictures in the late 1920s. Paramount owned its own theaters across the country, which meant it controlled both the production and the distribution of its films — a practice that shaped the entire film industry until antitrust laws forced studios to divest their theater chains in the 1950s.
For most of the twentieth century, Paramount remained a major force in cinema, producing blockbuster films and developing stars like Gary Cooper, Audrey Hepburn, and later Tom Cruise. The studio survived the rise of television by adapting its business model, producing content for both the big screen and eventually for broadcast and cable networks.
Key Takeaways
- Paramount Pictures was founded in 1912 as Famous Players Film Company and took its name from the mountain logo used to brand its films.
- The studio was one of the "Big Five" Hollywood studios for most of the twentieth century and owned its own theater chains until forced to sell them in the 1950s.
- Paramount adapted to changing technology by producing content for television and cable networks alongside theatrical releases.
- Paramount+ launched in 2020 as the studio's streaming service, marking its entry into the direct-to-consumer market.
The shift to television and cable in the late twentieth century
As television became the dominant form of entertainment in the 1950s and 1960s, Paramount adapted by producing content for the small screen. The studio created television series and made-for-TV movies, diversifying its revenue beyond theatrical releases. This willingness to embrace new distribution methods kept Paramount relevant even as cinema attendance declined.
By the 1980s and 1990s, Paramount was producing hit television shows and continuing to release major films. The studio became known for franchises like Star Trek, which began as a television series in 1966 and evolved into films and later streaming content. Paramount also owned MTV Networks and other cable properties, making it a media conglomerate rather than just a film studio.
Paramount's ownership changes and corporate structure
Paramount Pictures has changed hands several times over the decades. In 1994, Viacom — a media and entertainment company — acquired Paramount Communications, which owned the studio. This merger created one of the largest media companies in the world. Viacom later split into two companies in 2005: CBS Corporation and Viacom Inc., with Paramount remaining under Viacom's control.
In 2019, Viacom and CBS Corporation reunited under the name ViacomCBS (later rebranded as Paramount Global in 2022). This consolidation positioned Paramount to compete more effectively in the streaming market by combining its film and television production capabilities with its distribution reach.
The launch of Paramount+ in 2020
Paramount+ launched on March 4, 2020, as the studio's direct-to-consumer streaming service. The timing coincided with the early days of the COVID-19 pandemic, when people were spending more time at home and streaming services saw rapid growth. Paramount+ offered a combination of new original series, theatrical films, and content from Paramount's vast library spanning decades of production.
The service was designed to compete with Netflix, Disney+, and other established streaming platforms. Paramount+ included content from multiple sources within the Paramount Global portfolio, including CBS television shows, MTV programming, and films from the Paramount Pictures library. The service also began producing original films and series made specifically for streaming.
Paramount+ content strategy and growth
Paramount+ has invested heavily in original programming to attract and retain subscribers. The service produces series like Yellowstone (and its prequel 1883), The Offer, and Halo, alongside theatrical films that premiere on the platform. Paramount has also made deals to include content from other studios and networks, expanding the range of shows and movies available.
The service offers both ad-supported and ad-free subscription tiers, allowing viewers to choose their preferred experience. Paramount+ has also bundled with other services and offered promotional pricing to build its subscriber base during its early years. The platform continues to release new content regularly, with a focus on both prestige dramas and popular entertainment.
How Paramount+ fits into the broader streaming landscape
Paramount+ operates in a crowded market where Netflix, Disney+, Amazon Prime Video, and other services compete for viewers' time and money. Unlike some competitors, Paramount+ has maintained a relatively affordable price point and offers both subscription tiers. The service has also benefited from Paramount's long history of producing content across multiple genres and formats.
Paramount Global's ownership of multiple production studios and networks — including CBS, MTV, Nickelodeon, and Comedy Central — gives Paramount+ access to a deep library of existing content and the ability to produce new material across many categories. This vertical integration means Paramount can move content from its television networks to the streaming service, maximizing the value of its productions.
Frequently Asked Questions
How old is Paramount Pictures as a company?
Paramount Pictures was founded in 1912, making it over 110 years old. It is one of the oldest continuously operating film studios in the world and has survived major shifts in technology and entertainment consumption.
Is Paramount+ the same company as Paramount Pictures?
Paramount+ is the streaming service owned by Paramount Global (formerly ViacomCBS), which also owns Paramount Pictures. Paramount+ distributes content produced by Paramount Pictures and other studios within the Paramount Global portfolio, but Paramount+ itself is the streaming platform, not the film studio.
When did Paramount start making movies for streaming?
Paramount began producing content specifically for streaming around the time Paramount+ launched in March 2020. However, the studio has also released theatrical films on the streaming service, sometimes simultaneously with or shortly after theatrical release, depending on the film and market conditions.
Why did Paramount create its own streaming service?
Paramount created Paramount+ to compete directly with Netflix and Disney+ by offering its own content directly to consumers. This allows Paramount to capture subscription revenue rather than licensing its content to other platforms, and it gives the studio more control over how and when its content is distributed.
What was Paramount before it became Paramount+?
Before Paramount+ launched in 2020, Paramount's streaming content was scattered across multiple platforms. CBS All Access (which later became Paramount+) existed as a separate service for CBS television content. The 2020 rebranding and expansion unified these services under the Paramount+ name and added theatrical films and content from across the Paramount portfolio.