Paramount Global shares saw an increase on Friday morning following reports of a potential bundled streaming offering with Apple Inc.'s Apple TV+ service. According to the Wall Street Journal, both companies have been in talks about offering a discounted rate for bundled streaming platforms. Although the talks are still in the early stages, this news has sparked investor interest.
Paramount has declined to comment on the report, while Apple has not responded to a request for comment. Despite this, Paramount's shares were up by 1% shortly after Friday's opening, whereas Apple's stock saw a slight decline.
In recent months, both Paramount and Apple have raised the prices of their respective streaming services, which aligns with a broader trend seen across the media industry. While these streaming players initially focused on acquiring new users during the pandemic, their attention has now shifted towards improving the profitability of their offerings.
The Wall Street Journal highlights that the potential bundling plan could help reduce customer defections, also known as churn. By providing viewers with multiple services within a single subscription, customers may be more inclined to retain their subscriptions.
Our Latest News
Mortgage rates have increased for the fifth consecutive week, raising concerns about potential interest rate hikes and market instability. Experts predict rates...
Performance Food Group (PFG) reports strong Q2 results with an increase in net income and sales, exceeding analyst expectations. Sales driven by increased sales...