The news: Paramount outlined the future of its cable and studio assets on Wednesday a week after completing its merger with Skydance Media.

• Paramount president Jeff Shell characterized the company’s vision for its cable networks, including MTV, BET, and Nickelodeon, not as shrinking linear assets, but as “brands that we have to redefine.”
• While television media chair George Cheeks acknowledged that cable is an increasingly challenging business, he noted that Paramount’s networks include well-known franchises that could thrive in the shift to streaming.
• Paramount also has big hopes for its studio business. Co-chair of Paramount Pictures Josh Greenstein explained the company’s plan to significantly increase its film output from eight movies to 15 annually, eventually getting to 20 movie releases a year.

What would redefining linear look like? Companies across the board are stepping away from cable as streaming consistently outperforms in time spent with TV. Amid big names like Warner Bros. Discovery and Comcast making moves to separate cable and studio/streaming businesses, Paramount’s announcement represents a unique commitment to maintaining a full content ecosystem.

But what will a redefined linear strategy entail?

• Paramount’s linear channels will likely shift from being viewed as standalone entities to assets that complement and feed into Paramount’s streaming strategy with Paramount+ and Pluto.
• A major focus will be placed on producing and leveraging linear content for streaming platforms, possibly including streaming-first releases or exclusivity windows.

Our take: Paramount’s emphasis on growing its traditional media businesses signals a bet that legacy channels can drive meaningful revenues when accounting for shifting viewing habits and pursuing higher-volume content pipelines.