(DailyDig.com) – After reports that Apple and Paramount Global are contemplating combining both of their streaming services at a discount, Paramount Global shares finished almost 10% higher on December 1.
According to the report, the businesses have discussed launching a combined Apple TV+ and Paramount+ package that would be less expensive than subscribing to both services individually.
There is growing agreement that there may be too many separate services for the marketplace to handle. Wall Street and industry leaders agree that bundling may lower consumer expenses, and they expect more of it. Many foresee this shift as media corporations struggle with declining broadcasting and streaming revenue.
A collaboration between the two competing streaming behemoths might help entice cost-conscious clients who have been hit hard by rising prices for everything from gadgets to food.
According to a person familiar with the situation, Verizon is also preparing to provide ad-supported editions of Warner Bros. Discovery’s Max and Netflix streaming platforms for roughly $10 per month instead of around $17.
CEOs ranging from David Zaslav of Warner Bros. Discovery to Bob Bakish of Paramount are increasingly voicing enthusiasm for third-party packages. It is currently working with Disney internally, offering a Hulu, ESPN+, and Disney+ package for a while.
To encourage streaming growth, Paramount has created a variety of collaborations, including ones with Delta and Walmart+. Bakish said on Paramount’s most recent earnings conference call that partnerships are a significant contribution to their progress and that this new period of growth is just getting started.
An app for grocery delivery, Instacart, earlier this week announced a partnership with Peacock from NBCUniversal to deliver its streaming service with no additional cost to every one of its paying US users.
The discussions among Apple and Paramount are currently in their early stages, and it is unknown what form the package would take, according to the report. However, the possibility of new bundles indicates that some players who have hitherto resisted discounts or wholesale deals are warming to the notion.
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