Apple is launching the first of several discounted content bundles as early as next week, according to a report.
The offering pairs Apple's TV+ service with CBS All Access and Showtime for $9.99 per month, and could launch as soon as Monday, Bloomberg reported.
Apple (AAPL) - Get Apple Inc. (AAPL) Report shares closed 1.8% higher on Thursday at $460.04. Shares of Viacom (VIACA) - Get ViacomCBS Inc. Class A Report, which owns CBS and Showtime, also rose 1.71% to $26.69 on the news.
The bundle is a significant discount compared to what it costs to subscribe to the services independently. Apple's TV+ costs $4.99 per month, while CBS All Access and Showtime cost $9.99 and $10.99 per month, respectively.
Apple's TV+ offering launched in November of last year, and Apple offered one free year to buyers of Apple devices. But the service has a limited selection of content, and no mainstream hits relative to more established streaming players such as Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report.
An earlier Bloomberg report indicated that Apple is planning to launch several content bundles, dubbed Apple One, in the coming weeks. Those offerings are expected to package in Music, News+, and Arcade for a discounted monthly price.
Apple hasn't shared subscriber numbers for Apple TV+, but various estimates place the figure at between 10 million and 30 million. Its total services revenue for the June quarter was $13.16 billion.
Apple told investors four years ago that it expects its services business to generate $50 billion annually by the close of 2020, and reaffirmed that target on a recent shareholder call. It is aiming for 600 million total services subscribers by the end of this year.
Apple's services business constitutes roughly 18% of its overall revenue, and analysts view the segment as a critical part of Apple's overall roadmap. The company's installed base is more than 1.5 billion worldwide.
Apple shares are up 53% year to date.