Apple, Paramount reportedly eye streaming deal
The Wall Street Journal reported that the talks between Apple and Paramount were preliminary in nature
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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.
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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.
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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 | 10.98 | +0.13 | +1.20% |
| AAPL | APPLE INC. | 239.59 | +2.26 | +0.95% |
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.
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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."
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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