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Paramount surges on report it’s in talks to bundle streaming service with Apple TV+

Friday December 1, 2023. 07:59 PM , from Mac Daily News
Paramount Global (PARA) shares jumped Friday following a report that suggested the group is in talks to bundle its content with Apple TV+. The Wall Street Journal reports that early discussions focus on a Paramount+ and Apple TV+ bundle priced at a discount to streaming rivals.
Martin Baccardax
 for TheStreet:

Streaming services are looking to win over new customers who have weathered sharp price increases across all major streaming hubs over the past 12 months.
Paramount Global shares were marked 8.6% higher in mid-day Friday trading to change hands at $15.61 each while Apple edged 0.8% higher to $191.44. Netflix, meanwhile, slipped 0.9% to $469.72.
Paramount, which changed its name from ViacomCBS earlier this year, owns the Paramount CBS, Showtime, MTV and Comedy Central brands and hopes to have at least 100 million streaming subscribers by the end of 2024.
Third-quarter subscription revenue was up 59% from a year earlier to $863 million, paced by growth in its Paramount+ streaming offering, which includes NFL games and soccer matches from the UEFA Champions League.

MacDailyNews Take: A competitively priced Apple TV+ and Paramount+ bundle would benefit both companies.

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The post Paramount surges on report it’s in talks to bundle streaming service with Apple TV+ appeared first on MacDailyNews.

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