Comcast and Paramount Global, which already jointly operate streaming effort SkyShowtime in parts of Europe, have held talks to discuss possibly combining their streaming platforms here in the U.S.
The discussions, which were not described as at all advanced by the news platform first reporting them, The Wall Street Journal, also involved “other strategic options.” Neither media company is publicly discussing the dialogue yet, but there has been third-party confirmation by the Penske showbiz trades and other outlets via anonymous sources.
The move would be, of course, about scale.
Paramount Plus touted 63.4 million U.S. subscribers as of the end of September, up 38% year over year. Comcast said in January that Peacock, operated by its NBCUniversal division, had around 31 million paid subscribers at the end of 2023, triple what it had just two years ago.
For its part, the biggest subscription streaming operator, Netflix ended 2023 with 80.13 million subscribers in the U.S. and Canada.
Comcast and the erstwhile ViacomCBS formed SkyShowtime in August 2021, combining their streaming efforts in parts of Europe in which Peacock or Paramount Plus weren’t already established independently.
Both media companies are engaged in a lot of exploratory dialogue right now.
Also read: Paramount Global Set To Dismiss 800 Employees in Cost-Cutting Move
During Comcast’s fourth-quarter earnings call, CEO Brian Roberts once again asserted his lack of desire to enter into any substantive M&A. But with Peacock seeking scale, a JV certainly wouldn't be out of the question.
Meanwhile, as they face numerous media-business headwinds, Paramount and its parent company, National Amusements, have been exploring a broad range of deals recently.
