In a recent development, Verizon Communications Inc. (NYSE:VZ) is said to be joining forces with Netflix Inc. (NASDAQ:NFLX) and Warner Bros Discovery (NASDAQ: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.
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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.
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