Apple, Paramount discuss bundling their streaming services
Shares of media company Paramount rose 1.2% to $14.58 in premarket trading
(Reuters) - Apple (AAPL.O) and Paramount Global (PARA.O) have discussed bundling their streaming services at a discount, the Wall Street Journal reported on Friday.
The companies have talked about rolling out a combined Paramount+ and Apple TV+ offering that would cost less than subscribing to both services separately, the report said, citing people familiar with the discussions.
Shares of media company Paramount rose 1.2% to $14.58 in premarket trading.
A pairing between the two rival streaming giants could likely help attract cost-conscious customers who have been grappling with higher costs for everything from food to electronics.
Verizon (VZ.N) is also planning to offer the ad-supported versions of Netflix (NFLX.O) and Warner Bros Discovery's (WBD.O) Max streaming services for about $10 a month combined instead of about $17, a source familiar with the matter told Reuters last month.
Grocery delivery app Instacart (CART.O) said earlier this week that it had partnered with NBCUniversal's Peacock to provide the streaming service at no extra cost to all of its paying U.S. subscribers.
The talks between Apple and Paramount are in early stages, and it is unclear what shape the bundle could take, the WSJ report said.
Paramount declined to comment, while Apple did not immediately respond to a Reuters request for comment.