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this post was submitted on 27 Jun 2023
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Star Trek
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I'm just flabbergasted by the situation. I can't think of a worst way for Paramount+ to have handled things. Prodigy gets good word of mouth. Prodigy's physical media release is done using the cursed method of splitting the season into volume 1 (episodes 1 to 10) with volume 2 to be released in the future. Hasn't happened yet. Prodigy is greenlit for a season 2. Prodigy is cancelled. Prodigy season 1 is removed from Paramount+ a few days after the announcement. Season 2 is waves hand around, getting finishing touches, and it's availability for viewing to be determined, maybe never. I'm getting mental whiplash.
At some point, customer satisfaction and loyalty (to Star Trek; peripherally to Paramount+) should be greater than how many nickels a company can squeeze from a penny.
There’s a dimension of ‘killing the goose that laid the golden egg’ and eating it.
I can’t see how this is anything but a very tiny and super short term benefit to Paramount Global’s net earnings numbers for Q2 2023.
Metrics from 2022 show that Star Trek is one of the two franchises driving subscription demand, and that Prodigy helped sustain and grow the base through the fall/winter before the run up to Picard. Without Prodigy to help fill in the schedule in winter 2023-2024, Paramount+ can only expect season subscription drops by their Star Trek base.
It seems like this action might make things look slightly better at the Q2 earnings call meeting, but smart investors should see it as a an indication that Paramount will lose revenue next year, if not sooner due to backlash from the fanbase.