• by Karlene Lukovitz  @KLmarketdaily, May 12, 2023

Paramount Global’s BET+ streaming service plans to launch an ad-supported tier, called BET+ Essential, in June.

The launch date, June 25, is timed to coincide with the live BET Awards that evening.

The new tier will cost $5.99 per month — $4 less than the no-ads version that launched in September 2019 — and include about six minutes per hour of 15- and 30-second ads, shown before and after shows. BET+ Essential will be measured by Nielsen Digital Ad Ratings.

Numerous reports have indicated that Paramount is exploring a sale of the BET division.

To pitch the new offering to advertisers, BET executives are revealing the streamer’s subscriber numbers for the first time (3 million plus), and projecting overall growth for the platform, even as some subscribers switch to the ad-supported version.

The ad-supported tier will offer the same original programming as BET+, including content from Tyler Perry (shown above), Mary J. Blige, Lee Daniels, Gabrielle Union and Kevin Hart.

BET+ is operated through a joint venture with Perry, and he is reportedly among those interested in potentially acquiring all or most of the property.

“As the preeminent Black streaming service, only BET Plus Essential can deliver reach, resonance, relevance and scale,” said Louis Carr, president of media sales at BET Media, adding that 80% of current BET+ subscribers watch from a connected TV.

“A primary focus of BET Plus has been delivering consumers the content they want, how they want it, and when they want it, so the natural evolution of the service was to provide consumers with a more economical ad-integrated experience,” added Scott Mills, president and CEO of BET Media Group.

The executives did not reveal what advertisers are on board, but said the demand is strong, and includes existing BET+ and BET Awards advertisers and sponsors.