Channel 10 has lost market share of the prime time market, but Paramount promises not to sell it anytime soon.
👉 Background: Channel 10 is the network that houses all our favourite, recently-flopping shows like The Bachelorette and The Real Love Boat.
👉 What happened: In 2017, Network 10 was acquired by Paramount for $250m, the owner of Comedy Central, MTV and Nickelodeon. But since then, Channel 10 has actually lost market share of the prime time market.
👉 What else: Ten dropped its market share from 18.3% of market share to 16.2%, which is well behind the leaders of Nine and Seven who sit ~28% each. But now, Paramount has said it won’t be shutting down Channel 10, despite all those pesky rumours and restructures.
💡 Not all acquisitions are quite what they seem
We know that Paramount+ has been the main focus for Paramount and it’s growth globally.
💡 By finding a semi-distressed asset like Network Ten, Paramount was able to use its infrastructure as a mouthpiece to grow Paramount+ subscribers… as well as Paramount movies (think: Top Gun: Maverick).
💡 Paramount aren’t the only ones buying assets for their large audience.
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