William Simpson
Comcast will offer a new 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 package, which will be called StreamSaver, but said it will be “a greatly reduced price” relative to other streaming services. StreamSaver will launch this month, Roberts said during a MoffettNathanson investor conference, but did not give an exact date.
“We have successfully and creatively packaged videos for 60 years,” Roberts said during the conference. “And so, this is the latest iteration of that and I think it’s going to be a pretty compelling package.”
Apple TV+ alone now costs $9.99 per month, up from $6.99 last year. Apple’s TV arm contributed to record revenue from the company’s services sector at the end of the first quarter, reported The Hollywood Reporter in February. NBC’s Peacock, 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 costs US$5.99 per month.
Netflix, which achieved critical mass and profitability long before its streaming rivals, continues to reign supreme with more than 260 million views. subscribers. The service costs between US$6.99 and US$22.99, depending on the subscription.
Apple, Comcast and Netflix did not immediately respond to a request for comment Tuesday.
StreamSaver is the latest in a growing trend of streaming bundles this year, created by major streaming services in partnership. Entertainment and media giants have struggled to profit from streaming, given the high 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 costs and programming.
Disney and Warner Bros. Discovery announced that will offer a package that includes Disney+, Hulu and Max this summer. Users of the new package 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 package, ESPN, Fox Corp. and Warner Bros. Discovery announced earlier this year the launch of an app this fall that will bring together most of its respective sports content for US users.
Apple TV+ and Paramount+’s intentions to bundle their services were reported by Fortune in December, although no such plan has been officially announced by either company. Former Paramount CEO Bob Bakish left his position in Aprila major management change at the media and entertainment company as it considers a potential merger or sale.
Despite news of the package, Comcast’s stock price remained stable Tuesday, trading at about $40 per share.
