Skydance sets early-2027 Paramount+ and HBO Max bundle

Skydance will offer Paramount+ and HBO Max as a bundle in early 2027, but the company has not disclosed the price. The company led by David Ellison made the announcement Monday in its third-quarter earnings report, its first since Paramount bought Warner Bros. Discovery in early October.

Skydance said it would share more details on the bundle and "its streaming roadmap" in the coming months. The announcement came with third-quarter revenue of $7 billion, up 5% year over year, and adjusted EBITDA of $1 billion.

What will the bundle cost?

Skydance left price and promotion details open in the third-quarter report. The standalone rates provide the only current pricing baseline:

• HBO Max: $10.99 per month with ads; $18.49 per month for the standard ad-free plan.
• Paramount+: $8.99 per month with ads; $13.99 per month for the ad-free version.
• Both services bought separately: about $20 per month with ads; $32.48 per month without ads.

No bundle discount or launch-day price appeared in the announcement. Until Skydance releases those terms, the standalone figures remain reference points rather than customer prices for the bundle.

How will Skydance combine the platforms?

Skydance plans to combine the Paramount+ and HBO Max technology platforms over the next 11 months, with the aim of creating a "unified product." The company expects to use AI tools to move faster than on its previous integration.

Skydance said in its third-quarter shareholder letter: "We expect to bring Paramount+ and HBO Max together much faster, aiming to align our backend systems within a year of closing, enabling us to quickly deliver a unified product."

Paramount has already merged the backend of its namesake streamer with the free Pluto TV service. The process was known internally as convergence and took about 18 months. The new target is shorter than that earlier project. Skydance ties the backend deadline to closing, not to the early-2027 bundle launch.

What did the third-quarter results show?

Skydance largely met Wall Street's expectations, meeting its revenue projections and exceeding adjusted earnings estimates.

• Revenue: $7 billion, up 5% year over year and within the $6.95 billion to $7.15 billion range Paramount had given investors.
• Adjusted EBITDA: $1 billion, above the $875 million to $975 million range. The profitability measure excludes certain items.

Skydance announced the bundle alongside a quarter that met revenue guidance and beat the adjusted earnings range.

Shares moved unevenly in early after-hours trading after a Monday rise of more than 8.5%. The stock entered earnings down more than 11% since the October 6 merger.

What does the bundle change for marketing leadership?

Skydance's announcement leaves marketing teams with two dates, one integration target and no bundle price. For buyers, the measurable baseline is the cost of the two services separately: about $20 per month with ads, or $32.48 without ads.

The next 11 months matter as much as the launch date for product planning. Skydance links the backend work to its goal of a unified product, so teams have no basis yet for final bundle pricing or promotional planning. Until then, the standalone rates remain benchmarks, not bundle forecasts.

Skydance has set the bundle's timing and integration deadline. Pricing and promotion terms remain open.