Paramount Global has reached an agreement to acquire Tyler Perry Studios’ equity stake in the streaming service BET+, marking a major shift in the company’s digital streaming strategy.
The development will see BET+ cease operating as a standalone platform, with its catalogue of more than 1,000 hours of programming integrated into the Paramount+ streaming service by June 2026.
Although the financial terms of the agreement were not officially disclosed, industry analysts estimate the deal to be worth tens of millions of dollars.
The acquisition forms part of Paramount’s broader plan to strengthen its global streaming operations and expand its reach in an increasingly competitive digital entertainment market.
In a memo to staff, BET Networks President Louis Carr described the move as an opportunity to take the platform’s storytelling to a wider audience.
“This powerful next step ensures the stories we champion, the creators we support and the culture we represent go further than ever before,” Carr said.
“Paramount+ will bring global fans more than 1,000 hours of iconic series and films that reflect the full spectrum of the Black experience.”
Under the new arrangement, popular titles such as The Ms. Pat Show, All The Queen’s Men, and Zatima will be available through a dedicated BET hub within the Paramount+ interface.
Despite the sale of his stake in BET+, Tyler Perry is said to still maintain his long standing creative partnership with BET.
The network is to continue to operate its traditional television channels as well as its FAST (Free Ad Supported Streaming Television) channels featuring Perry’s productions. (Leadership)
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