Binge More, Spend Less: Verizon Offers Netflix & HBO Max at a Steal This Season

Verizon Communications Inc VZ eyes offering the ad-supported versions of Netflix Inc NFLX and Warner Bros Discovery Inc's WBD Max streaming services for about $10 a month combined instead of about $17. 

The movie is strategically timed with the holiday season when consumers indulge in binge-watching.

Also Read: Balancing Profitability and Entertainment: Amazon Considers Launching Ad-Supported Prime Video Tier

Netflix and Warner Bros will have to share revenue with Verizon, Reuters cites familiar sources. The financial terms of the deal remain undisclosed.

Netflix launched its ad-supported tier in 2022, and it bumped up the prices for its premium ad-free tier in October 2023.

In October, Apple Inc AAPL ramped up the prices for its premium services, namely Apple TV+, Arcade, and Apple One, taking a cue from Walt Disney Co's DIS Disney+ and Netflix. 

The American multinational telecommunications conglomerate is amid multiple initiatives to boost its prospects, including a partnership with the National Football League while continuing its broadband expansion across geographies.

Verizon clocked a Q3 sales decline of 2.6% year-on-year to $33.34 billion, marginally beating the consensus of $33.25 billion. Adjusted EPS of $1.22 beat the consensus of $1.18. 

Price action: NFLX shares are trading higher by 0.46% at $437.13 on the last check Friday.