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Apple and Paramount are in talks to potentially bundle their streaming services at a discount as streamers struggle with intense competition, the Wall Street Journal reported on Friday.
The companies are considering combining Apple TV+ with Paramount+ at a price that would cost less than subscribing to both separately.
“The discussions are in their early stages, and it is unclear what shape a bundle could take,” the Journal reports, citing those familiar with the discussions.
Streamers including Apple TV+, Paramount+, Hulu, HBO’s Max, and Disney+ have been raising prices as they struggle to reach profitability and appease shareholders.
Netflix recently increased its basic plan from $9.99 to $11.99 per month. Hulu went from $14.99 to $17.99. Apple raised subscriptions from $6.99 to $9.99. Max went from $14.99 to $15.99, and Disney+ raised its ad-free tier from $10.99 to $13.99.
Only Netflix, the original streaming service that started as a DVD rental business, has succeeded in turning a profit to date, and industry experts have long predicted that consolidation would occur.
Netflix and Max will soon be bundled at a discount in a deal for Verizon customers. Warner Bros. Discovery CEO David Zaslav has stated that he was open to bundling Max with other streaming services, the Journal reports.
A, app that will combine Disney+ and Hulu into a single app will be rolled out in beta this month as Disney acquires full ownership of Hulu, Disney CEO Bob Iger announced in early November. The full launch is expected in spring 2024, the Verge reports.
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