If you subscribe to multiple streaming services, you probably know the frustration of finding that the show or movie you want to watch is available on yet another platform.

And as streaming prices have climbed over the years, keeping up with your favorite content has become increasingly expensive.

Now, two major streaming services are headed toward a significant change that could alter how millions of consumers watch and pay for entertainment.

After much drama, HBO Max and Paramount+ are finally expected to become part of a single streaming service following the completion of Paramount Skydance’s acquisition of Warner Bros. Discovery on Oct. 6.

The newly combined entertainment company, Skydance, plans to eventually unify its streaming platforms, including HBO Max, Paramount+, and Discovery+.

However, the company has not announced the combined service’s name, pricing, or launch date.This leaves customers asking: Will combining streaming services actually save them money, or simply create another expensive subscription?

For now, existing subscribers do not need to make any changes.

Also read: New rule makes it easier to cancel subscriptions, get money back

HBO Max and Paramount+ confirm changes for subscribers

In an Oct. 6 announcement, Skydance confirmed that it had completed its acquisition of Warner Bros. Discovery, bringing together some of Hollywood’s biggest entertainment brands.

The combined company now controls a portfolio spanning HBO, Warner Bros., Paramount, CBS, CNN, Nickelodeon, Discovery, and major sports programming. Its streaming businesses have more than 200 million subscriptions across platforms.

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The company also confirmed plans to improve its direct-to-consumer streaming products, which it said would eventually become one service.

But the transition won’t happen immediately.

In an updated HBO Max customer FAQ, the company clarified that currently there will be no immediate changes to the HBO Max or Paramount+ apps, subscriptions, content libraries, or pricing.

Paramount+ has issued similar guidance, telling customers they can continue using their existing subscriptions.

This means customers who currently pay for both services should continue to expect separate subscriptions and charges unless the company announces otherwise.

There is also no confirmed timeline for transferring accounts, combining content libraries, or introducing a new app.

Skydance increased Discovery + subscription price

The uncertainty surrounding the combined platform comes at a time when consumers are already increasingly questioning the cost of their streaming subscriptions.

According to Deloitte’s 2026 Digital Media Trends report, the average U.S. household subscribing to streaming video services spends $69 per month.

The survey found that:

• 73% of consumers are frustrated by rising entertainment subscription prices
• 61% said they would likely cancel their favorite streaming service following a $5 monthly price increase
• 68% of streaming subscribers have at least one advertising-supported plan, up from 46% in 2024

These findings highlight the challenge facing Skydance.

Combining HBO Max and Paramount+ could offer customers a broader selection of programming, but convincing them to pay more for it may prove difficult.

While this decision may be pending, at least one of its streaming services has already seen a price hike.

Discovery+, another streaming service owned by Skydance, increased its monthly subscription prices in October. Its ad-supported plan rose from $5.99 to $6.99, while its ad-free offering increased from $9.99 to $11.99.

The increases took effect immediately for new subscribers, with existing customers scheduled to see them beginning Nov. 12.

How much HBO Max and Paramount+ subscribers currently pay

The biggest uncertainty involves subscription pricing.

Streaming services have become substantially more expensive over the past decade, as previously detailed in TheStreet’s comparison of Netflix and other major streaming platforms.

And the cost of subscribing to both HBO Max and Paramount+ already adds up.

Here is what customers currently pay for the services individually.

For someone subscribing to the cheapest plans on both services, the total comes to $19.98 per month, or $239.76 annually.

A customer paying for both HBO Max Standard and Paramount+ Premium pays $32.48 per month, or $389.76 per year.

And subscribing to the highest-priced plans from both platforms costs $36.98 per month, equivalent to $443.76 annually.

These figures can help compare any combined subscription Skydance introduces.

If the company offers access to both content libraries at a lower price than customers currently pay separately, it could create savings for households already subscribing to both.

However, customers who currently pay for only one platform could end up spending more if the new offering replaces cheaper standalone options.

Skydance has not indicated whether separate subscriptions will remain available or whether the combined service will introduce new advertising-supported and premium tiers.

Why Skydance wants to combine HBO Max and Paramount+

For Skydance, the merger is about more than bringing popular television shows and movies under one roof.

The company is targeting at least $6 billion in annualized cost savings within three years, largely through technology integration, purchasing efficiencies, marketing, and reductions in overlapping operations.

And combining these operations could reduce duplication while giving Skydance a larger content library to compete against Netflix, Disney+, and Amazon Prime Video.

The company says its expanded portfolio includes franchises ranging from “Harry Potter” and “Top Gun” to “SpongeBob SquarePants” and “The White Lotus.” It also brings together sporting rights from CBS Sports and TNT Sports.

This could make it more attractive to some customers, but it might help to remember that financial savings for the company do not automatically translate into cheaper subscription prices.

Skydance is also managing the substantial financing obligations associated with the Warner Bros. Discovery acquisition.

The company aims to reduce leverage and generate more than $10 billion in free cash flow by 2030, creating pressure to improve profitability while continuing to invest in programming.

For now, all we can do is sit back and wait for new announcements. Until then, keep enjoying your latest watch.

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