Comcast is set to launch StreamSaver, a new streaming bundle that combines its Peacock service with Netflix and Apple TV+. This initiative aims to offer a highly attractive package to Comcast's broadband, TV, and mobile subscribers. Comcast CEO Brian Roberts introduced the StreamSaver bundle at the MoffettNathanson Media, Internet & Communications Conference, emphasizing its competitive pricing. He stated it would be offered at a "vastly reduced price to anything in the market today."
This announcement comes on the heels of a similar partnership between Warner Bros Discovery and Walt Disney, which recently launched a bundle of Disney+, Hulu, and Max streaming services. "We've been bundling video successfully and creatively for 60 years. And so this is the latest iteration of that, and I think this will be a pretty compelling package," Roberts said.
The new bundle is a critical strategy for Comcast as it contends with significant challenges in retaining its broadband subscribers. Competitors such as T-Mobile and Verizon have intensified the market rivalry, contributing to Comcast's recent subscriber losses. This trend is expected to be exacerbated by the expiration of a federal internet subsidy program this month, further pressuring Comcast to innovate and attract customers.
Churn, the rate at which customers discontinue their subscriptions, remains a pressing issue for the streaming industry. Companies are increasingly turning to bundling as a solution to minimize subscriber attrition and better compete with industry leaders like Netflix. Peacock, Comcast's streaming service under NBCUniversal, reported 34 million subscribers at the end of the first quarter, significantly trailing Netflix's 269.60 million subscribers and Disney+'s 117.6 million (excluding Hotstar).
To enhance its market appeal, Comcast also introduced "Now," a low-cost prepaid service plan for broadband, TV, and mobile, in April. This plan offers flexible monthly options, catering to budget-conscious consumers and aiming to reduce churn.
Further details about the StreamSaver bundle are anticipated to be released later this month.