Paramount and Peacock
Paramount and Peacock Bundle Sparks Consumer Interest, Survey Reveals in 2024
As rumors swirl surrounding a potential sale of Paramount Global, the future of its flagship streaming service Paramount+ hangs in the balance.
While various industry observers have promoted shuttering the SVOD service, a recent New York Times report noted Paramount’s most likely purchaser, Sky dance Media, plans to ally with “another major corporation” on some form of collaborative venture – in other words, the ever alluring concept of the streaming package deal.
Also Read- Grand Rapids West Michigan Widespread Power Outage Affecting 1000s – Exclusive News
Should this content reach Sky dance CEO David Ellison, prudent consideration of novel consumer research regarding one potential Paramount partnership is advised.
An up-to-date consumer survey from consulting firm FTI Delta, exclusively shared with Variety Intelligence Platform, highlighted the meaningful opportunity of a Paramount+ and Peacock bundled subscription offering, an idea supposedly being pondered in February.
The data unveiled was included in a broader survey that probed an assortment of topics concerning streaming packages amidst many prominent players within the industry deliberating over strategic shifts guiding in that path.
No revelations of such a package have emerged since (obscured undoubtedly by wider M&A discussions transpiring at Paramount), but FTI’s poll forecasts that if it does materialize, the bonus worth for both parties could be considerable.
In aggregate, approximately 45% of the 1,006 United States patrons surveyed final month stated they would either without a doubt or likely subscribe to a Peacock-Paramount+ combination deal. Within just that class, nearly half don’t presently render for possibly assistance.
In other words, virtually half of the likely subscribers to a Peacock-Paramount+ package would bring novel extra value to both platforms which were previously unattainable.
While an in-depth examination into the figures projected size able prospective gains, with a bundle offering the potential to raise annual subscription revenues across both services by approximately $1 billion, boosting revenues from the estimated current $4.4 billion to somewhere in the range of $5.3 to $5.7 billion contingent on the cost of the combined package. The analysis presumed that a package would represent an outstanding chance, lifting continuous U.S. subscriptions over both administrations from $4.4 billion (at as of now assessed subscriber levels) to someplace between $5.3 billion and $5.7 billion, relying upon the value of the bundle.
There are conditions to this analysis that should be noted: it assumes that all consumers who pay for both services would switch over to the bundle, and that each projected customer belongs in some sort of low cost annual plan from either platform. But it does imply for both Paramount+ and Peacock to achieve revenue growth through a combination trade. This looks to be feasible.
For Paramount this must be especially promising. As the FTI survey also showed, if Netflix and Amazon Prime Video (both of which are likely too enormous ever to sign onto such an enterprise) were omitted from the survey’s hypothetical bundle of streaming sources most wanted by consumers then Paramount+ came in a strong second place.
As Paramount’s latest earnings report (citing analytics firm Antenna) shows, the service had the most sign-ups of any discernible subscription video-on-demand unit in Q4 2023 and added strongly in Q1 thanks to the Super Bowl, in line with antenna data. Nevertheless, the total number of paid subscribers—people who have made one at least minimal purchase on their account—in the last quarter was just 67.5 million worldwide. This is less than half what Disney+ would have if one includes Hotstar and fully 30 percent behind even hobbling Warner Bros.
Discovery’s SVOD platforms. Alluding to Paramount+ as valuable on its own in a package deal could enhance the service’s value for consumers who do see value in it even if they’re reluctant to pay for it by itself. As for Peacock, anything that helps to keep viewers keener during the NFL off-season is bound to be good news.
