Comcast will offer a new bundled streaming service where customers can watch content from Apple TV+, Peacock and Netflix in one place, the company’s chief executive said Tuesday.
Comcast CEO Brian Roberts didn’t give an exact price for the bundle, which will be called StreamSaver, but said it will be “a vastly reduced price” from that of other streaming services. StreamSaver will launch this month, Roberts said during a MoffettNathanson investor conference, but did not give an exact date.
“We’ve been bundling video successfully and creatively for 60 years,” Roberts said during the conference. “And so, this is the latest iteration of that and I think will be a pretty compelling package.”
Apple TV+ alone is now $9.99 a month, up from $6.99 last year. Apple’s TV arm contributed to record revenue for the company’s services sector at the end of its first quarter, reported The Hollywood Reporter in February. NBC’s Peacock, which was launched in July 2020, has 34 million paid subscribers, and includes programming from Bravo, Hallmark, WWE, NBC Sports and NBC, among other channels. The service is $5.99 a month.
Netflix, which achieved critical mass and profitability much before its streaming rivals, continues to reign supreme with more than 260 million global subscribers. The service costs between $6.99 to $22.99, depending on the subscription.
Apple, Comcast and Netflix didn’t immediately respond to a request for comment on Tuesday.
StreamSaver is the latest in a growing trend of streaming bundles this year created by major streaming services teaming together. Entertainment and media giants have struggled to turn a profit on streaming, given the hefty costs of producing original content in the highly competitive video-on-demand market. Another problem plaguing streaming content providers is inconsistent subscription revenue due to customers frequently adding and dropping platforms depending on their cost and programming.
Disney and Warner Bros. Discovery announced they will offer a bundle that includes Disney+, Hulu and Max this summer. Users of the new bundle will have access to content from ABC, CNN, DC, Discovery, Disney, Food Network, FX, HBO, HGTV, Hulu, Marvel, Pixar, Searchlight and Warner Bros.
In a separate bundle move, ESPN, Fox Corp. and Warner Bros. Discovery earlier this year announced the launch of an app this fall that will group together the bulk of their respective sports content to U.S. users.
Intentions by Apple TV+ and Paramount+ to bundle their services were reported by Fortune in December, though no such plan was ever officially announced by either company. Former Paramount CEO Bob Bakish stepped down from his role in April, a major management shift at the media and entertainment company as it considers a potential merger or sale.
Despite news of the bundle, Comcast’s stock price was flat Tuesday, trading at around $40 a share.
Khristopher J. Brooks is a reporter for CBS MoneyWatch. He previously worked as a reporter for the Omaha World-Herald, Newsday and the Florida Times-Union. His reporting primarily focuses on the U.S. housing market, the business of sports and bankruptcy.
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