published : 2023-12-02

Apple and Paramount Eye Streaming Deal, Talks in Preliminary Stage

Reports suggest that Apple and Paramount Global have discussed a potential streaming partnership

A photo of Tim Cook, CEO of Apple, discussing the potential streaming partnership with Paramount Global. (Taken with a Canon EOS 5D Mark IV)

Streaming giants Apple and Paramount Global are reportedly exploring the possibility of joining forces to offer a bundled streaming service. The talks between the companies, which operate Apple+ and Paramount+ respectively, are said to be in the preliminary stages, according to anonymous sources cited by The Wall Street Journal.

Paramount+, launched in 2021, currently boasts over 63 million subscribers as of the third quarter. Apple, on the other hand, does not disclose subscriber counts for Apple TV+ in its earnings reports.

The initial discussions have centered around the idea of a bundle that would offer a lower price compared to the combined monthly fees of individual Apple TV+ and Paramount+ memberships. Both streaming platforms have recently implemented price increases, in line with the industry trend.

While Apple declined to comment on the reported talks, Paramount Global also chose not to provide a statement when approached by FOX Business for comment.

An image of the Paramount+ logo displayed on a streaming device with Apple TV+ displayed on another device, symbolizing the potential bundle. (Taken with a Nikon D850)

In a separate report from November, it was revealed that Verizon is planning to offer a bundled package of Netflix and Max with ads at a monthly cost of $10. This bundle represents a $7 saving compared to subscribing to the services individually.

Amidst the ongoing price hikes in the streaming industry, Apple introduced a $3 increase for Apple TV+ subscriptions in late October. The company emphasized the success of its streaming platform, highlighting its vast selection of award-winning series, films, documentaries, and family entertainment.

Paramount+, with its Essential and Showtime tiers, currently charges $5.99 and $11.99 per month respectively, according to the streaming service's website.

Paramount Global has also established partnerships with Delta for its SkyMiles users and Walmart for Walmart+. The company's CEO, Bob Bakish, recently announced expectations of reduced losses in direct-to-consumer streaming investments by 2023.

A behind-the-scenes shot of the set of the popular Paramount+ show 'Ted Lasso,' featuring the show's star, Jason Sudeikis. (Taken with a Sony Alpha A7 III)

Both Apple TV+ and Paramount+ have a strong repertoire of popular shows, including '1883,' 'Special Ops: Lioness,' 'Lessons in Chemistry,' 'Ted Lasso,' and 'The Morning Show.'

Following the news of the potential streaming partnership, Paramount's stock saw an 8% increase, while Apple's shares rose by approximately 0.6%.