The Wall Street Journal reported Tuesday that Comcast (NASDAQ:) will merge its Peacock streaming service with rivals Netflix (NASDAQ:) and Apple (NASDAQ:) TV+.
The package, called “StreamSaver,” will be exclusive to Comcast internet customers. Comcast CEO Brian Roberts reportedly made the announcement at the MoffettNathanson investor conference on Tuesday.
The announcement follows similar moves by Disney and Warner Bros. Discovery to combine its own streaming services.
Pricing and details are said to be announced next week, but the launch is expected by the end of the month. StreamSaver will include a Netflix advertising tier.
The consolidation strategy is a response to growing customer churn as streaming services raise prices and compete for viewers. Comcast is joining Verizon in offering comprehensive streaming options in hopes of reducing subscription cancellations.
As the WSJ notes, the significant increase in streaming options is making it difficult to retain viewers. Bundles reduce the likelihood that users will abandon individual services.