Paramount+ and Peacock have started talks to merge into a single streaming service, according to a report from The Wall Street Journal.
The report said that Comcast and Paramount recently met to look at options to possibly merge their respective streaming services into a single offering, among other options that include a joint venture structure. This would bring Paramount’s and NBCUniversal’s content under a single streaming app.
Details are still thin. No pricing, naming, or other details have been decided at this time. At this time, neither company has made any formal announcement about the talks.
Paramount+ had 63 million subscribers at the end of the third quarter of 2023. Peacock recently announced that it hit 31 million subscribers paying for the service. Some subscribers pay for both but merging together will help the services compete with larger services like Max and Disney+.
Both services are still struggling to turn a profit. Paramount+ is expected to become profitable by the end of 2025. No timeline is known for when Peacock will become profitable. Merging the services could also help them reach profitability sooner.
This adds another wrinkle to Paramount, which has been in talks with various companies about a deal, from Warner Bros. Discovery to Byron Allen’s Allen Media Group, which put in a $30 billion business for much of the assets, and Skydance Media, which reportedly put in a preliminary bid.
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