SAN FRANCISCO – The streaming wars have reached a fever pitch with more ads, higher prices, and greater competition as platforms scramble to reach profitability and capture paying users.
With so many choices now available to consumers, the media landscape seems to be reverting to the cable TV bundle of years past — the very thing that streaming set out to undo.
On Monday, telecom giant Verizon (VZ) announced it will offer a $10 bundle for the ad-supported plans of both Netflix (NFLX) and Warner Bros. Discovery’s Max (WBD) streaming services, yielding more than 40% in savings.
The offer, available for Verizon’s myPlan customers, will begin on Thursday. The company will also offer an additional bundle that combines the ad-free Disney+ plan along with the ad-supported tiers of Hulu, ESPN+, Netflix, and Max for $20 a month.
Verizon CEO Hans Vestberg said at a UBS media conference on Monday that bundling is driving more customer retention, crediting “the optionality and the flexibility” of the trend coupled with its savings for consumers.
“Netflix and Max [are] just boosting up the momentum we have in the quarter — we feel good,” he said, adding the company will work to form new bundles in the future.
The news comes after The Wall Street Journal reported Friday that Paramount Global (PARA) and Apple (AAPL) are in early-stage talks to bundle their streaming services at a discount. Paramount declined to comment while Apple did not respond to Yahoo Finance’s request.
To read more, click on Yahoo
