Tech giant Apple and entertainment conglomerate Paramount Global are reportedly in discussions to bundle their respective streaming services, Apple TV+ and Paramount+. According to a Friday report from the Wall Street Journal, the companies are exploring the possibility of offering a combined streaming package at a discounted rate, providing a more affordable option for viewers.
Insiders familiar with the matter revealed that talks between Apple and Paramount Global are still in the early stages, and the exact details of the potential bundle remain uncertain. However, the report suggests that the combined offering would be priced lower than subscribing to each service individually, presenting a compelling value proposition for consumers seeking to manage the rising costs associated with various aspects of daily life.
This potential collaboration between Apple and Paramount comes as streaming services are looking for innovative ways to attract and retain subscribers amid intensifying competition. Both companies are major players in the streaming industry, with Apple TV+ offering a diverse range of original content and Paramount+ boasting an extensive library of movies and TV shows, including popular franchises and classics.
The envisioned partnership aims to tap into the growing market of cost-conscious customers who are increasingly feeling the financial strain of escalating prices in various sectors, from consumer goods to electronics. By bundling their services, Apple and Paramount Global hope to create a more accessible entry point for viewers who may be hesitant to subscribe to multiple standalone streaming platforms.
This move follows a trend in the industry, with Verizon reportedly planning to offer a combined package of ad-supported versions of Netflix and Warner Bros Discovery’s Max streaming services at a discounted rate. Last month, Reuters reported that Verizon’s offering could be priced around $10 a month, as opposed to the approximately $17 it would cost to subscribe to both services separately.
Additionally, grocery delivery app Instacart recently announced a partnership with NBCUniversal’s Peacock, providing the streaming service at no extra cost to all of its paying U.S. subscribers. These collaborations signify a shift in the streaming landscape towards more inclusive and cost-effective options for consumers.