Amid calls to rebuild the pay TV landscape, streaming rivals Netflix and Paramount+ are being bundled through Verizon +Play.
For a limited time, the telecom giant will be offering its subscription bundle platform Netflix’s premium plan and the Paramount+ with Showtime in a bundle for $25.99 per month. Verizon points to $70 annual savings, based on monthly retail prices for Netflix and Paramount+ with Showtime.
The offering also appears on Paramount, home of TV hits such as Yellow jackets And Your honor, launching the new Paramount+ with Showtime service on June 27, making Showtime programming part of the core Paramount+ experience. The discounted rate for a Netflix and Paramount+ with Showtime package also shows a way to bundle more streaming services together to sign up more subscribers and reduce churn.
“With partners like Netflix and Paramount+ with Showtime on +Play, we lead the industry in providing customers with the content they want, with never-before-seen bundles they can’t get anywhere else. And now with +Play as a benefit offered with myPlan, we look forward to seeing even more customers take advantage of the savings we have to offer. This is a milestone for both Verizon and the streaming industry, and we are grateful and excited to be part of it together with these partners,” said Erin McPherson, chief content officer at Verizon Consumer Group in a statement.
Verizon is also expanding its TV video strategy that markets third-party streaming platforms rather than owning and offering online platforms to mobile and broadband internet customers through acquisitions. The Verizon +Play offering also comes as streamers need to recalibrate to address rising content costs and become profitable faster for investors.
“By partnering with Verizon, we are making our broad and popular streaming offerings on Paramount+ with Showtime even more accessible,” added Jeff Shultz, chief strategy officer and chief business development officer at Paramount Streaming, in his own statement.
