The bundled would cost less than subscribing to both services separately, people familiar with the matters told The Wall Street Journal. Talks are still in the early stages, so details like prices and timelines are unclear.
Bundle deals give customers more bang for their buck. Apple’s catalog of exclusive content paired with Paramount+’s nostalgic CBS TV experience could prove to be an attractive option.
Companies joining forces and bundling products isn’t new. Customers can purchase Hulu, Disney+, and ESPN+ as a bundle deal ahead of Disney’s plans to fold Hulu and Disney+ into a new streaming app later this year. In addition, Verizon plans to offer a discounted Netflix and Max bundle, and NBCUniversal and Instacart struck a deal to offer Peacock for free to Instacart+ members.
Apple and Paramount’s talks come at a time when a majority of streaming services are struggling to achieve profitability without losing viewers looking to cut back on spending.
Streaming services are seen as the cheaper alternative to cable, but the combination of rising inflation, increasingly budget-minded customers, and rising production costs have created a challenging landscape for entertainment companies to navigate.
Apple and Paramount weren’t immediately available for comment.