How Popular Would a Combination of Paramount+ and Peacock Be?

To say that the future of Paramount+ is uncertain right now would be an understatement. The streamer’s parent company Paramount Global is deep in discussions with David Ellison and Skydance Media about a possible merger of the two companies, a move that could signal the start of big changes for Paramount+ and every other division inside the media giant. One option on the table for Paramount, that predates its M&A conversations with Skydance, is bundling its flagship streamer with other services; Peacock has long been discussed as a potential partner for Paramount+, and a new report from Variety demonstrates that a bundle of the two relatively smaller streaming services would be quite popular among customers.

• Nearly half of people who say they would probably or definitely subscribe to a Paramount+/Peacock bundle currently subscribe to neither service.
• The two sides have already engaged in discussions about a combination of their streaming products in some form.
• A combination of Paramount+ and Peacock would offer a wide selection of sports and entertainment.

Variety’s data uses an exclusive survey fielded by the consulting firm FTI Delta. It shows that around 45% of all respondents said that they would probably or definitely subscribe to a bundle of Paramount+ and Peacock. Of those who said they would definitely subscribe to the bundle, 46% do not currently have a Paramount+ or Peacock account. In the “probably would subscribe” category, 48% are not currently paid customers of either streamer.

In other words, Paramount+ and Peacock could gain a significant number of new subscribers by bundling. This would mean a big jump in revenue; the FTI report forecasts that combining the two streamers into a single offering would generate between $900 million and $1.3 billion in additional income each year, depending on the price of the bundled product.

The survey found that Paramount+ is a good bundling target in general, which is encouraging news for Ellison as he closes in on a deal with Paramount. FTI’s data shows that Paramount+ is the second-most desired service in a hypothetical streaming super bundle, once Netflix and Prime Video (which are less likely to join a bundle thanks to their already-large customer bases) are removed as possible options.

Paramount and NBCUniversal have reportedly already discussed teaming their two streamers together in some form or another. Whether that’s a hard bundle that entails a full merger of the two platforms or a soft bundle that sells the two separate services together for a lower price remains to be seen, but if the two companies do offer a combined streaming product, Variety’s analysis of FTI Delta’s survey suggested that they’ll be on solid ground with customers.

How Much Would a Paramount+/Peacock Bundle Cost, and What Would it Have?

Price is an important consideration for streaming customers, particularly when it comes to bundling. A recent survey found that viewers want more streaming bundles in general, but are afraid that bundles will lead to price increases as platforms boost the amount of content they provide.

With that in mind, it would behoove Paramount+ and Peacock to keep the price for a bundled offering low. Both services currently have the same price schedule for their two plans: each charges $5.99 per month for ad-supported streaming and $11.99 for ad-free. A starting price of $10 per month for ad-supported plans and $19.99 to go ad-free seems logical; Disney currently charges $9.99 per month for its Duo Basic bundle of Disney+ and Hulu ad-supported options, and $19.99 for customers who want the two services ad-free. This gives customers a clear discount over what they’d pay to access the streamers separately, making it highly attractive from a value perspective.

Live sports are important to both Paramount+ and Peacock; both streamers saw millions of new subscribers sign up during the 2023-24 NFL playoffs, for example. Merging the content of the two streamers would create a platform that carries Sunday afternoon and night NFL games, UEFA Champions League and English Premier League soccer, and much more. Paramount+ with SHOWTIME also carries each game, regardless of sport, appearing on local CBS stations, so if those sports were also added to the new platform alongside NBCU’s sports rights, it would carry part of the NCAA Men’s Basketball Tournament, Big Ten and Notre Dame football and basketball games, extensive coverage of the PGA Tour, and much more.

A combined Paramount+ and Peacock would also have the potential to offer an excellent selection of live news. The ad-free Peacock plan carries livestreams of local NBC affiliates in all markets in the United States, and Paramount+ with SHOWTIME likewise provides CBS in every city. One platform that provides a stream of both networks in all cities would allow viewers to use it to catch up on local news from two different sources and give viewers important updates on national stories as well. Peacock already carries some news from MSNBC, and Paramount+ houses CBS News productions like “60 Minutes” and others.

All of this comes before even mentioning the popular titles that a combined Paramount+/Peacock would offer. The platform would carry “NCIS” and “Suits,” two of the most popular streaming titles among all viewers of the past three years, alongside myriad popular franchises and movies from both Paramount and Universal. From a content perspective, a bundle of Paramount+ and Peacock would be an incredibly strong and diverse offering.

From an outsider’s perspective, a combination of Paramount+ and Peacock in the same product is a move that makes sense from multiple angles. Whether such a move ever comes to pass depends on a multitude of factors far outside a customer’s control, but it’s clear that consumers would welcome such an offering with open arms.