Skydance announced plans to launch a bundled subscription offering both Paramount+ and HBO Max in early 2027, according to a shareholder letter reported on Monday.
The move marks one of the company’s first major strategic initiatives following its merger.
- The combined services currently reach a total of 203 million subscribers.
- Standalone pricing sits at $8.99 per month for the ad-supported tier of Paramount+ and $18.49 per month for a standard HBO Max subscription.
- Skydance did not disclose the monthly or annual subscription price for the upcoming bundle, with details expected closer to the 2027 launch.
The upcoming bundle pairs two platforms with contrasting programming styles. HBO Max brings premium storytelling titles including House of the Dragon, Game of Thrones, The Sopranos, Euphoria, and Lanterns, alongside talk shows from Bill Maher and John Oliver.
Meanwhile, Paramount+ relies on a broader slate featuring the Yellowstone suite of dramas, CBS programming, Nickelodeon, Comedy Central, and originals like Landman, Lioness, and a suite of series tied to the Star Trek franchise.
During a call with investors, Skydance CEO David Ellison described the bundle as a “first step” toward eventually combining the two platforms into a single service over a longer period.
Ellison stated that the offerings are highly complementary and over-index with different consumer segments and different parts of the country. “By bringing these services together, we are well positioned to deliver for a broad range of audience cohorts,” Ellison said during the call.
The $110 billion merger uniting Paramount and Warner Bros. Discovery into Skydance closed in early October, leaving the latest earnings report to provide a transitional snapshot for the third quarter. Skydance reported that pro forma revenue in its direct-to-consumer division grew 15% year-over-year, while standalone Paramount DTC revenue reached $2.5 billion ahead of the merger close. Subscriber numbers for Paramount rose 6% while average revenue per user climbed 14%.
Platform aggregation represents a central strategy for media companies attempting to reduce subscriber churn in a fragmented market. Standalone prices leave consumers paying separate a la carte rates for individual networks, making bundles an increasingly popular alternative. For sports fans, the combined entity brings together an expansive portfolio including the NFL on CBS, March Madness, the College Football Playoff, MLB, NHL, UFC, PGA Tour, and NASCAR under one corporate umbrella.
Skydance has not yet announced whether it will maintain existing third-party packages, such as the current HBO Max bundle that includes Disney+ and Hulu. Ellison noted on the investor call that management would examine those arrangements to evaluate their impact on shareholder value. Executives also confirmed they will phase in pricing plans carefully using consumer feedback leading up to the 2027 rollout.
While the long-term goal remains a complete technological and strategic unification of HBO Max and Paramount+, the company has not yet provided a specific timeline for when the separate apps will merge entirely. Pricing figures and exact launch dates remain undisclosed.
| Streaming Service | Standalone Monthly Price | Key Programming & Sports |
|---|---|---|
| HBO Max | $18.49 (Standard tier) | House of the Dragon, The Sopranos, Live Sports |
| Paramount+ | $8.99 (Ad-supported tier) | Yellowstone suite, Star Trek, NFL on CBS |
