The video streaming market could see a change, after it was reported that two major platforms have discussed bundling their respective streaming services.
On Friday the Wall Street Journal (WSJ), citing people familiar with the discussions, reported that both Apple and Paramount Global have discussed bundling their streaming services at a discount.
The bundling move with rival platforms allows entertainment giants to make their streaming products more more affordable and attractive.
According to the WSJ report, both companies have talked about offering a combination of Paramount+ and Apple TV+ that would cost less than subscribing to both services separately.
The discussions are in their early stages, and it is unclear what shape a bundle could take, the sources told the WSJ.
The move comes as cost-conscious consumers seek to reduce their spending amid the ongoing cost of living squeeze that has seen higher costs for everything from food to electronics.
The bundling discussion between Apple and Paramount is not the only development in the streaming market.
A source told Reuters last month that Verizon is also planning to offer the ad-supported versions of Netflix and Warner Bros Discovery’s Max streaming services for about $10 a month combined instead of about $17.
Earlier this month, cross-screen advertising specialist LG Ad Solutions, in its latest streaming report, found that UK consumers are increasingly shifting away from linear TV, with 25 percent of those surveyed saying they are watching less linear television than a year ago.
In its place, ad-supported streaming services are growing in popularity, with 68 percent of UK consumers preferring to stream free content rather than pay for a subscription.
This is 8 percent more than US consumers.
The LG Ad Solutions report also found that consumers are cutting down on costs, with more than 1 in 3 UK TV viewers are concerned about TV costs.
Indeed, the research found that 36 percent have cancelled a streaming service because of economic concerns.
Although 86 percent of UK consumers pay for one or more subscription services, 55 percent are willing to cancel a subscription after watching the desired content, the report found.
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