YouTube TV subscribers might be losing popular channels
Paramount Global and YouTube are locked in a contract battle.
Transcript:
Conway Gittens: If you're a fan of any shows produced by Paramount Global, which includes content from Comedy Central, MTV, and CBS, there’s a chance those channels will go dark if you access them through YouTube TV. The two companies are in a contract dispute and YouTube is threatening to pull the plug this week.
YouTube TV said in a statement, “We’re still in active conversations with Paramount and are hopeful we can come to an agreement to keep their content available on YouTube TV.” The company is telling customers they should subscribe to Paramount+ for uninterrupted access to those Paramount shows. Paramount+, by the way, carries a $7.99 monthly fee. YouTube is offering an $8 credit if the blackout lasts for an extended time.
Related: YouTube TV makes major price change that customers dread
For its part, Paramount posted an online message accusing YouTube TV of “attempting to pressure Paramount to unfavorable and one-sided terms.” It told customers it wants to keep the channels alive on the platform as part of a “comprehensive deal.”
The two sides are at odds after YouTube TV raised the monthly price of its basic plan to $82.99, a hike of $10. This is not the first clash between YouTube and a major content company. Disney shows temporarily went dark in 2021 after the two sides failed to reach a deal. YouTube appears to be flexing its muscles. With roughly 8 million paying subscribers, it is the biggest internet-based pay-TV service out there.
Turning to markets now, investors got another whiff of too-hot inflation. Producer prices saw a bigger-than-expected 0.4 percent jump in January. Prices were up 3.5 percent compared to a year ago. Stocks, however, are trading higher Thursday as investors adjust to the likely reality the Federal Reserve will keep interest rates higher for longer.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
