According to a report that was published in the Wall Street Journal on Friday, Apple and Paramount Global have discussed the possibility of grouping their streaming bundles services at a discounted rate.
According to the article, which cited individuals who were aware with the conversations, the businesses have discussed the possibility of launching a combination offering of Paramount+ and Apple TV+ that would be more affordable than subscribing to both services independent of one another.
During premarket trading, the share price of the media business Paramount increased by 1.2%, reaching $14.58.
It is possible that a partnership between the two competing streaming giants could be beneficial in terms of attracting customers who are concerned about cost and have been struggling with rising prices for a variety of products, including food and gadgets.
According to a source familiar with the situation who spoke to Reuters one month ago, Verizon (VZ.N) is also intending to sell the ad-supported versions of the streaming services offered by Netflix (NFLX.O) and Warner Bros. Discovery’s (WBD.O) Max for approximately $10 per month combined, which is a significant reduction from the current price of almost $17.
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In the beginning of this week, the grocery delivery app Instacart (CART.O) said that it had formed a partnership with Peacock, which is owned by NBCUniversal, in order to offer the streaming service to all of its paying users in the United States at no additional cost.
According to a source from the Wall Street Journal, the discussions between Apple and Paramount are still in the preliminary stages, and it is not yet apparent what form the bundle may take.
Apple did not immediately react to a request for comment from Reuters, while Paramount declined to comment on the matter.
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