In the current business landscape, streaming platforms are increasingly looking to join forces to entice customers. In the latest development, tech giant Apple (NASDAQ:AAPL) and Paramount Global (NASDAQ:PARA) are considering bundling their streaming offerings, according to the Wall Street Journal.
Reportedly, the two companies have mulled a combined Paramount+ and Apple TV+ offering at a reduced cost compared to paying for both services separately. Still, the talks are in early stages and the final product offering is yet to be chalked out.
Amid stiff competition, streaming platforms have taken pricing actions, but these moves have largely resulted in customers deserting their services. So far, we have seen the service bundling of Netflix (NASDAQ:NFLX) and Max, and similar industry deals could become the norm as customers become more budget-conscious.
Disney (NYSE:DIS) has also taken a similar route by packaging Disney+, Hulu, and ESPN+ together. According to the Wall Street Journal report, the move led to lower subscriber defections for the company. This emerging industry trend could be a potential winner for both streaming platforms and their binge-watching subscribers.
What is the Best Streaming Stock to Buy Right Now?
We tapped the TipRanks Comparison Tool to evaluate these streaming names. While Apple and Netflix have delivered robust double-digit returns over the past year, Paramount has been a clear laggard. At the same time, analysts see the highest upside potential in Disney stock based on a Moderate Buy consensus rating and an average price target of $106.52.
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