Apple and Paramount Global are said to have been in discussion to bundle their streaming services. According to a report, both the companies have talked about rolling out a combined Paramount+ and Apple TV+ subscription. A combined subscription will effectively cost less than subscribing to both services separately and is likely to help the companies attract customers who are cost sensitive.
Soon after the news surfaced, shares of Paramount Global jumped over 9% Friday and Apple shares rose 0.7%.
The report highlighted that since consumers pay monthly for streaming services, it's convenient for them to cancel once they have exhausted the content they initially subscribed for. Combining two services with a broader range of options could enhance the appeal of continuing the subscription.
In early November, it has been reported that Verizon Communications was planning to bundle ad-supported versions of Netflix and Warner Bros. Discovery’s Max for around $10 per month, offering a $7 discount from the combined individual subscription prices. Following this news, Paramount Global shares experienced a surge, reaching their highest level since August, although they still remained lower for the year.
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