Apple May Team Up With Paramount On A Streaming Bundle As Subscriber Losses Mount

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Apple and Paramount are toying with the idea of combining forces to combat subscriber loss. Both companies reported losing an estimated 7% of subscribers in the month of October, 2023.

The world of streaming platforms has become a hotly contested battlefield. With so many options for consumers to choose from, such as Apple TV+ and Netflix (to name just two), companies are struggling to find ways to be profitable while still retaining paying customers. Several streaming platforms have hiked up prices in recent months to try and stay afloat in the sea of streaming, with some also opting to join forces by combining services, like Disney and Hulu, to stave off the bleeding of fleeing customers. Paramount+, which previously inked a deal with Showtime, is now looking at Apple TV+ as another possible streaming partner.

apple tv offerings
Apple TV+ offerings.

According to a new study conducted by subscriber-measurement firm Antenna, a bundle deal helps retain subscribers. Subscribers to a single streaming platform, however, are more apt to jump ship after binge-watching a particular series. So, it seems giving viewers more variety and options, also gives them more incentive to stick around.

It is a tough boat to be in when a company chooses to raise subscription prices to stay afloat, knowing that it will more than likely translate into fewer customers. Apple TV+ recently went from $6.99 per month to $9.99 per month, or from $69 per year to $99 per year. Now that Apple has seen the effect of raising prices, it is no surprise it is looking for other ways to not only keep existing customers, but also to get back those who have canceled their subscription.

The bundled services concept is not a new idea, as companies like Netflix and Max have already taken the leap. The thought is that by offering more content in one place, viewers will be more likely to keep paying for a subscription each month. A bundle offer would surely enhance Apple’s current offering, as it has one of the smallest libraries on the market.