According to a report from the Wall Street Journal on Thursday, Verizon is gearing up to introduce a combined subscription of the ad-supported versions of Netflix and Warner Bros Discovery's Max streaming services for approximately $10 per month, a reduced rate from the usual $17.
This discounted bundle is anticipated to be officially unveiled in the upcoming weeks, as per insiders familiar with the matter, as mentioned in the report.
This move underscores the fierce competition in the streaming industry, prompting companies to explore new bundling strategies as they collaborate with telecommunications providers to attract more customers.
The report mentions that Netflix and Warner Bros will share a portion of their revenue with Verizon, though the specific financial terms of this arrangement were not disclosed. However, it is noted that there is a minimum revenue guarantee in place for the entertainment companies.
Requests for comments made to Verizon and Warner Bros Discovery by Reuters went unanswered, while Netflix opted not to provide a comment.