(Reuters) -Verizon is planning to offer the ad-supported versions of Netflix and Warner Bros Discovery's Max streaming services for about $10 a month combined instead of about $17, according to a source familiar with the matter.

The discounted bundle is expected to be announced in the coming weeks, the source added.

Netflix and Warner Bros will have to share revenue with Verizon, the source said. Reuters could not learn the financial terms of the contract.

The Wall Street Journal first reported the news on Thursday.

Verizon and Warner Bros Discovery did not immediately respond to Reuters' requests for a comment. Netflix declined to comment.

Netflix launched its ad-supported tier late last year, and it increased the prices for its premium ad-free tier in October 2023.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar)