(Reuters) – Verizon is planning to offer the ad-supported versions of Netflix and Warner Bros Discovery’s Max streaming services for about $10 a month combined instead of about $17, the Wall Street Journal reported on Thursday.

The discounted bundle is expected to be announced in the coming weeks, the report said, citing people familiar with the situation.

The move is the latest sign that the highly competitive streaming space is prompting companies to try new bundling tactics in their partnerships with telecom providers in order to woo customers.

Netflix and Warner Bros will have to share revenue with Verizon, the report said, adding that while the economic arrangement could not be learned, there is a minimum guarantee of revenue for the entertainment companies.

Verizon and Warner Bros Discovery did not immediately respond to Reuters’ requests for a comment. Netflix declined to comment.

Netflix launched its ad-supported tier late last year, and it increased the prices for its premium ad-free tier in October 2023.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar)

Brought to you by www.srnnews.com