Apple, Paramount reportedly eye streaming deal
The Wall Street Journal reported that the talks between Apple and Paramount were preliminary in nature
Stream-flation: Average streaming service is raising prices 25%
Needham & Company senior media and internet analyst Laura Martin discusses Netflix's wild trading range ahead of earnings on 'Making Money.'
Two streaming giants, Apple and Paramount Global, have reportedly looked at pairing their separate platforms up in a bundle for streaming viewers.
The talks that the companies, which operate Apple+ and Paramount+, respectively, have had about such a move have been preliminary in nature, according to a Friday report from The Wall Street Journal based on anonymous sources "familiar with the discussions."
Paramount+, which debuted in 2021, had a total subscriber count of over 63 million as of the third quarter, Paramount Global said last month. Apple does not include that information in its quarterly earnings reports.
Paramount+ debuted in 2021. (Rafael Henrique/SOPA Images/LightRocket via Getty Images / Getty Images)
The initial talks between the companies have been about the possibility of a bundle whose price tag would be lower compared to the combination of monthly fees that come with individual Apple TV+ and Paramount+ memberships, the Journal reported.
WHAT WILL IT COST YOU NOW TO CUT THE CORD AND ONLY STREAM CONTENT?
Apple did not respond to a FOX Business request for comment by the time of publication. Paramount Global declined to comment.
Apple TV+ and Paramount+ have implemented price increases this year, as have other streaming services. (iStock / iStock)
The Wall Street Journal previously reported in November that Verizon is looking to make Netflix and Max with ads available to customers as a bundle. That pairing will reportedly cost $10 a month, coming in $7 cheaper than the cost of joining the individual streaming services.
VERIZON REPORTEDLY PUTTING TOGETHER NETFLIX, MAX STREAMING BUNDLE
Apple and Paramount have implemented price increases this year. Other services have done so, too, as previously reported by FOX Business.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PARA | PARAMOUNT GLOBAL | 11.91 | -0.27 | -2.22% |
| AAPL | APPLE INC. | 169.30 | -0.59 | -0.35% |
The iPhone maker has been charging $9.99 for an Apple TV+ subscription since late October, when it implemented a $3 increase. It said at the time the platform "has made history for streaming services by crossing major milestones in a short span of time, thanks to its extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment."
Appe has been charging $9.99 for an Apple TV+ subscription since late October. (Budrul Chukrut/SOPA Images/LightRocket via Getty Images / Getty Images)
For the Paramount+ Essential tier, the monthly subscription came in at $5.99, and the fee for Paramount+ with Showtime was $11.99, according to the streaming service’s website.
NETFLIX JOINS OTHER STREAMING SERVICES IN ANNOUNCING PRICE HIKES ON CERTAIN PLANS
Paramount Global has Paramount+ partnerships set up with Delta for the carrier’s SkyMiles users and Walmart for its Walmart+ initiative. On top of those, it has some international distribution arrangements.
Paramount Global
Paramount Global CEO Bob Bakish said in November that the company "now expect[s] DTC losses in 2023 will be lower than in 2022 — meaning streaming investment peaked ahead of plan."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Some popular shows on Paramount+ include "1883" and "Special Ops: Lioness." Meanwhile, Apple TV+ has "Lessons in Chemistry," "Ted Lasso" and "The Morning Show," among others.
Paramount’s stock has seen a lift of about 8% from where it started trading on Friday, while Apple shares have risen about 0.6%.
Apple