Tyler Perry’s minority stake in BET+ has been acquired.
Perry launched his first series with BET in 2019 and, in connection with the streaming platform, has produced more than 700 episodes, Deadline reports. His most recent deal was valued at nine figures with BET Media Group and is slated to conclude by 2028 and encompasses producing new and existing series for both BET and BET+, according to a separate article from Deadline.
Perry was a minority shareholder in BET+, with his stake estimated at 25%, which would amount to tens of millions of dollars, Deadline reports. Now, Perry’s stake is being acquired by Paramount. In June, BET+ will no longer exist as a standalone streaming service, and its more than 1,000 hours of content, spanning originals, movies, and specials, will move to Paramount+.
“We share the same ambition to expand the reach of BET content, and Tyler will continue to be a valued and important partner through his overall programming agreement,” a Paramount spokesperson said in a statement, per Deadline.
Paramount+ will move BET+ to its BET Hub. Perry’s film, TV, and stage works that live on BET+ will transfer to Paramount+. This includes “Ruthless,” “Divorced Sistas,” and “All the Queen’s Men,” notes the outlet.
This will expand the content’s reach to more than 80 million subscribers, a significant increase from BET+’s estimated subscriber base of nearly 3.5 million.
“This powerful next step ensures the stories we champion, the creators we support and the culture we represent go further than ever before … BET is a cornerstone of Black culture and an essential part of Paramount’s portfolio and long‑term content strategy,” said Louis Carr, president of BET, in an email obtained by Deadline.
“BET has already seen strong momentum by meeting audiences where they are. Through the growth of our FAST channels, we have expanded reach, increased engagement, and introduced BET content to new viewers … This moment is about growth and about ensuring BET’s voice continues to shape culture at an even greater global scale,” the statement continued.
BET+ users will have the option to join Paramount+ at a discounted rate when the streaming service is phased out, notes the outlet.
