In an increasingly competitive streaming market, giants like Apple TV+ and Paramount+ are considering to bundle in order to offer their users a more attractive option. This initiative arises at a time when both platforms face a significant loss of subscribers and are looking for innovative ways to retain and attract a larger audience.
Apple TV+ and Paramount+ may offer a bundle of their streaming services
According to Appleinsider, both Apple TV+ and Paramount+ have experienced a 7% decrease of their subscribers during October 2023. This is a common challenge in the streaming industry, where users often subscribe to watch a specific series and then cancel the service before the following month.
For this reason, Apple TV+ and Paramount+ are considering joining forces to offer their users a combined service offering. This strategic move is not new in the industry. In fact, Paramount+ had already established a similar agreement with Showtime.
Offering users access to both services at a price that, although higher than a single subscription, is considerably lower than the sum of both separately, seems tempting for subscribers. The logic behind this approach is clear: by providing users with a greater variety and quantity of content, they are less likely to cancel their subscription.
This type of bundle has already been explored by other major companies in the sector. Netflix, for example, is now offered along with Max (formerly HBO Max and Discovery+) in an agreement with Verizon. Similarly, Disney has seen a reduction in its cancellations since it offers a package that includes Disney+, Hulu, and ESPN.
In the case of Apple TV+ and Paramount+, this alliance could be particularly beneficial. Apple TV+, despite its known quality, has one of the smallest library of shows in the market, and the addition of Paramount+ could make its offer much more attractive. In fact, Apple has already experimented with the idea of bundles through its Apple One service, which combines Apple TV+ with Apple Music, Apple Arcade, and Apple News.
In an increasingly saturated and competitive market, where almost all streaming services have raised their prices, an alliance between Apple TV+ and Paramount+ could be a smart move. Not only would it help both platforms reduce their churn rates, but it would also provide users with a higher value proposition, offering us a wider variety of content at a more accessible price.
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