Too Many Streaming Services? The Great Consolidation of 2024
There’s a growing consensus in the streaming industry: there are simply too many streaming services competing for a limited pool of subscribers. In 2024, the inevitable consolidation has begun.
The Paramount-Warner Talks
The most high-profile consolidation discussion of 2024 involves Paramount+ and Max (Warner Bros. Discovery). CNBC reports that Paramount Global held active discussions about merging its streaming service with an existing platform.
Variety confirms that Warner Bros. Discovery expressed interest in exploring a joint venture to combine Max and Paramount+. The combined entity would bring together approximately 170+ million subscribers globally — Max’s 100 million and Paramount+’s 71 million.
The Great Re-Bundling
Perhaps the most telling trend of 2024 is what CNN calls “the great re-bundling.” After years of unbundling from cable packages, streaming services are now creating their own bundles:
- Disney Bundle: Disney+, Hulu, and ESPN+ offered together at a discount
- Venu Sports: A joint sports offering from Disney’s ESPN, Fox, and Warner Bros.
- Max + Disney+ + Hulu: A collaborative bundle bringing three platforms together
Why Consolidation Is Inevitable
Parrot Analytics notes that most industry executives believe only four or five global streaming services can survive and flourish. The rest will need to consolidate, partner, or fold.
The math is simple: each platform carries massive content costs, technology infrastructure expenses, and marketing budgets. When subscriber growth slows, these fixed costs become unsustainable for smaller players.
Winners and Losers
Strong Positions
- Netflix: 260+ million subscribers, profitable, established brand
- Amazon Prime Video: Bundled with Prime membership, massive scale
- Disney+: Strong IP library (Marvel, Star Wars, Pixar), growing internationally
Vulnerable Positions
- Paramount+: Seeking strategic partnerships
- Peacock: Dependent on NBCUniversal content
- Apple TV+: Small but well-funded, focused on quality over quantity
What It Means for Consumers
Consolidation will likely result in:
- Fewer choices but potentially better value through bundles
- Larger content libraries as merged platforms combine their catalogs
- Price increases as competition decreases
- Less fragmentation — fewer subscriptions needed to access desired content
The streaming industry is maturing from a land grab into a sustainable business, and consolidation is a natural part of that evolution.
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