Peacock, Netflix, Apple TV+ to have lower-priced bundle option for Comcast video, broadband customers

Comcast has announced it will begin bundling its Peacock streaming service with Apple TV+ and Netflix for customers of its Xfinity TV and broadband services at a discount.

Comcast chairman and CEO announced the plans at a conference May 14, 2024.

He did not indicate what the pricing would be or when the launch might be, but did indicate the name of the bundle: “Stream Saver.”

It was also not clear if the Peacock tier included would be ad-free or ad-supported (Apple TV+ does not offer an ad-supported plan). 

The news comes after Disney announced it would begin bundling Disney+ and Hulu with Warner Bros. Discovery’s Max.

Combined, these moves appear to signal that streamers are falling into two factions, with Netflix-Comcast on one side and Disney-WBD on the other.

That said, Comcast’s move to partner with Netflix could prove valuable given its long history in streaming, high subscriber counts and comparatively lower churn rate.

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According to data released in late 2023, Netflix sits at about 3% churn, while other streamers come in much higher, with an average between 5% and 6%.

That could mean that, assuming existing subscribers can be lured into the bundle, they would then have to consider losing Netflix if they want to cancel the others without having to cancel and then resubscribe to only Netflix.

If the pricing is set at an amount to make a hassle like that not worth it — such as essentially pricing it so customers are paying for two streamers but get three — this could benefit Peacock and Apple TV+ assuming Netflix content remains highly appealing.

To make it appealing for users to switch to either bundle, it’s likely that the setup process will need to be highly streamlined, including options such as using a single login for all three services or even the ability to jump between apps on devices and connected TVs easily. There’s also likely opportunities for cross-promotion of content within each service’s UI.

The Disney-WBD arrangement doesn’t quite have the same churn advantage, though all three services being bundled in that offering do contain a significant amount of content, including highly popular franchises. 

Disney and Hulu also have the advantage of being run by the same company and the two now directly integrate with each other and use the same technical backend. 

Comcast’s decision to limit the bundle to cable and broadband customers is also interesting, given that its cable TV business has dropped and its wired broadband services are now facing more competition. No other major streamer, let alone bundle, has such a limitation, though it wouldn’t be the first time a perk, benefit or content was limited to subscribers only.

Both of these moves notably leave larger streamers such as Paramount+ (an by extension Showtime) and Amazon Prime Video without any similar bundling partnerships, though both of these services are included as part of third-party deals, such as Walmart+ including Paramount+ or Prime Video being part of the larger Prime membership program.

There are also numerous smaller SVOD streaming services that also aren’t in on the bundling action yet, though increasing consumer frustration with fragmentation and multiple recurring fees, it could become a strategic move within the industry.