Could Paramount+ flex on ‘Discretion’ series herald re-energised activity around film?

Paramount+ has issued its first greenlight under the David Ellison leadership and ordered the legal thriller series Discretion starring Nicole Kidman and Elle Fanning straight to series in a major flex for the streaming division led by Cindy Holland.

The eight-episode series is being produced by A24 and according to reports a production start has been earmarked for 2026. Based on Chandler Baker’s adaptation of her upcoming short story of the same name, it will focus on an associate at a Dallas law practice who uncovers the truth behind the company’s NDA (non-disclosure agreements), disrupting the relationship with her mentor and senior partner.

The Paramount+ flex echoes a recent big swing by stablemate Paramount Pictures, which wasted little time snapping up the James Mangold-Timothée Chalamet heist package High Side. Less then two weeks later, parent company Paramount signed an exclusive deal with Stranger Things creators The Duffer Brothers.

Monday’s news raises speculation over whether a re-energised streaming division under new ownership that has shown itself to be aggressive in the marketplace will have an impact on the film business.

Film sources have told Screen they have noticed increased activity from the Paramount+ acquisitions team during festivals and markets and outside those events as it they look to buy third-party titles. Holland has said that original Paramount+ features are not currently her priority.

And then there is the pay-TV angle. Multiple sources have bemoaned the scarcity of pay-TV deals and the fact that streamers are low-balling offers, which theatrical distributors and producers rely upon to help with paying minimum guarantees. As some pay-TV deals are understood to be coming up for renewal soon, this could be the moment when an ambitious streamer steps up.

There has been speculation for some time that Paramount+ could be one such ambitious streamer. It would in theory make an ideal pay-TV partner for a company like 101 Studios, for example. The producer of cornerstone Paramount+ shows created by Taylor Sheridan like Yellowstone, Landman and spy series Lionesses starring Kidman is said to be considering a number of strategic options including a move into theatrical distribution.

Kidman has wrapped production on Practical Magic 2 and the title role in Prime Video crime series Scarpetta, while her recent credits include Babygirl and Netflix TV show Perfect Couple. Fanning will next be seen in Joachim Trier’s Cannes grand prize winner Sentimental Value at Neon and Predator: Badlands through Disney, both of which open on November 7. Her credits include A Complete Unknown.

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