Paramount Global recently held talks with Comcast on joining forces for a streaming deal. The two companies discussed a streaming partnership or joint venture for Paramount+ and Peacock, among several strategic options Paramount was pursuing, as reported by The Wall Street Journal.
Along with making access to the two platforms comparatively cheaper than buying separate subscriptions, The Wall Street Journal reports that the partnership would help Comcast and Paramount “produce significant cost savings — from spending on programming to marketing.”
These news come shortly after Disney and Warner Bros. Discovery announced that they are working together to create a new shared service focused on sports, a sign that more studios and networks are beginning to get very serious about collaborating and reflecting efforts across the industry to find ways to make streaming pull in profits to offset declines in pay TV subscribers and tackle the high costs of running the streaming services. Both Paramount Plus and Peacock have been working hard to court subscribers in order to further solidify their respective statuses as lasting players in the streaming space.
The report comes after Byron Allen’s company offered $14 billion last month for all of Paramount Global. Paramount CEO Bob Bakish has also held talks with Warner Bros. Discovery CEO David Zaslav about a merger.