Comcast, as its legacy cable TV business continues to shrink, has built a new cable-style bundle for the streaming era.
Beginning next week, the cable giant will offer StreamSaver, a package that includes NBCUniversal’s Peacock Premium (with ads), Netflix Basic (with ads) and Apple TV+ for a discounted price, available to TV and broadband customers in its footprint.
As an add-on to Comcast Xfinity TV or broadband, the StreamSaver bundle will cost $15 per month — a discount of at least 35% compared with price of the services purchased separately. In addition, Comcast will offer Netflix and Apple TV+ to its Now TV streaming-only service, which has Peacock and 40 free, ad-supported streaming TV channels, for $30 per month (versus $20/month without them). To get Comcast’s Now TV requires you to subscribe to Xfinity Internet.
Dave Watson, president and CEO of Comcast Cable, announced the details Tuesday at J.P. Morgan’s 2024 Global Technology, Media and Communications Conference.
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“These are three premium streaming services that are combined in one compelling package,” Watson said, noting that StreamSaver is focused on boosting Comcast’s broadband business. “It’s a home run for consumers… We’re thrilled to have Netflix and Apple as partners.”
On a standalone basis, the trio of services would cost $23-$25 per month: The ad-supported Peacock Premium is $5.99/month, going up to $7.99/month in July; Netflix Basic with ads costs $6.99/month; and the standard Apple TV+ plan at $9.99/month.
Watson said the priority for Comcast Cable is “investing in the network for the long haul,” in the anticipation that there will be “more streaming, more consumption” over time.
Comcast chief Brian Roberts first announced plans for StreamSaver one week ago at another investor conference. “We’ve been bundling video successfully and creatively for 60 years, and so this is the latest iteration of that,” Roberts said. “I think this will be a pretty compelling package.”
Bundles aggregating streaming services from would-be competitors have gained new popularity among traditional media companies, which view them as a way to cut customer-acquisition costs and reduce churn (i.e., cancelation rates).
Disney and Warner Bros. Discovery have announced a triple-play bundle comprising Max, Disney+ and Hulu, to be available starting this summer in the U.S. (with pricing yet to be announced). In addition, Venu Sports — a joint venture of Disney, WBD and Fox Corp. — anticipates launching a sports-centered live-streaming bundle in the fall of 2024, pending regulatory approval. There’s no word on pricing for Venu at this point.
Meanwhile, Disney offers discounted bundles with Disney+, Hulu and ESPN+ and has pushed to integrate them even more tightly together. Disney+ recently added a tile for Hulu (for customers with both services) and is using the tie-in to promote the bundle. In December, Disney+ will add a hub for ESPN+, providing some free games and programming to those who don’t subscribe to the sports package in a bid to upsell them.
