Comcast Corporation (NASDAQ: CMCSA) is set to introduce a new streaming bundle featuring Apple Inc. (NASDAQ: AAPL) TV+, Netflix Inc. (NASDAQ: NFLX), and Peacock, a service by NBCUniversal.
The bundle is expected to be offered at a significantly reduced price compared to purchasing the services individually.
What Happened: Comcast's CEO, Brian Roberts, announced the upcoming streaming bundle at a conference on Tuesday.
The new offering, named "StreamSaver," will be available to Comcast's broadband customers. The details of the bundle are yet to be disclosed, but it is expected to be similar to the offerings of mobile carriers like Verizon Communications Inc., which provides discounted streaming services with specific mobile phone plans, reported Variety.
Roberts assured that the bundled services would be available at a "vastly reduced" price compared to their individual costs.
Comcast's move follows a similar announcement from The Walt Disney Co. (NYSE: DIS), which is set to offer a streaming bundle featuring Disney+, Hulu, and Max.
The competition in the streaming industry is heating up, with companies seeking to provide more value to their customers through bundled offerings.
Why It Matters: The streaming industry is witnessing a trend of bundled offerings, with major players like Disney and Comcast vying for a larger share of the market. This competition is likely to benefit consumers, who can expect more affordable access to a wider range of content.
Comcast's move comes amid a broader industry shift. Earlier this month, Disney and Warner Bros. Discovery announced a joint streaming bundle, which is set to be available in the U.S. this summer. This move is seen as a response to the increasing competition in the streaming space, with companies looking to offer more choice and value to their customers.
Disney's streaming business has been a key focus for the company, with CEO Bob Iger recently praising Netflix's password-sharing crackdown as the "gold standard" in streaming.