In a recent development, Verizon Communications Inc. VZ is said to be joining forces with Netflix Inc. NFLX and Warner Bros Discovery WBD to introduce a competitively priced streaming bundle, revealed an insider.
What Happened: A Reuters report disclosed that Verizon has plans to offer ad-supported versions of Netflix and Warner Bros Discovery’s Max streaming services to its customers for roughly $10 a month, a significant markdown from the existing $17.
The launch of this discounted streaming bundle is expected to take place in the forthcoming weeks. The partnership entails a revenue-sharing arrangement between Netflix, Warner Bros, and Verizon. As of now, the financial specifics of the agreement have not been disclosed.
Netflix introduced an ad-supported tier to its service in late 2022 and subsequently raised the pricing for its ad-free premium tier in October 2023.
Photo via Shutterstock
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
