(MENAFN- market Press Release) May 14, 2024 12:04 am - A streaming package was unveiled by Disney and Warner Bros. Discovery in what an expert told Investopedia seems to be "a last-ditch effort" to compete with Netflix, which currently dominates the streaming industry.
This week, Disney (DIS) and Warner Bros. Discovery (WBD) collaborated to introduce a new streaming package. This is the latest attempt by the traditional media companies to compete in the streaming industry, which is currently dominated by Netflix (NFLX and other streaming services).
It is anticipated that the combined package, which will contain Warner Bros. Discovery's Max in addition to Disney+ and Hulu produced by Disney, would be made accessible in the United States throughout the summer. A specific timeframe or cost information for the bundle was not provided by the firms they were working with.
JB Perrette, the Chief Executive Officer and President of Global Streaming and Games at Warner Bros. Discovery, referred to the new offering as "the best value in streaming" for customers. He also said that it "will help drive incremental subscribers and much stronger retention."
In a recent announcement, Disney introduced Hulu on Disney+ for users of the Disney Bundle. Experts anticipate will have a beneficial impact on the streaming component of the company's business.
Why Businesses Are Combining Their Streaming Services and Products
The debut of the new Disney+, Hulu, and Max bundle comes at a time when customers are wanting to maximize value, and when media companies are struggling to find methods to enhance their competitive advantages in a market that is becoming more saturated with streamers.
Instead of having to subscribe to various streaming platforms, consumers may acquire something that is comparable to the classic cable TV package by purchasing a bundle including multiple streaming services.
According to Paolo Pescatore, a media analyst at PP Foresight, who spoke with Investopedia, "It's really not a surprise that you're seeing a return of a bigger bundle to help ease consumers' concerns and challenges around fragmentation" of streaming services.
Media businesses, on the other hand, have had a difficult time increasing their income from streaming services since they have many choices available to them other than raising costs, which customers have resisted.
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