May 14 (Reuters) -

Comcast ( CMCSA ) is set to launch a streaming bundle

combining its Peacock service with Netflix ( NFLX ) and Apple

TV+, as the media and broadband company looks to retain

subscribers in the face of stiff competition.

The new bundle, StreamSaver, will be available to all its

broadband, TV and mobile subscribers and at a "vastly reduced

price to anything in the market today", Comcast ( CMCSA ) CEO Brian

Roberts told the MoffettNathanson Media, Internet &

Communications Conference on Tuesday.

The tie-up follows a similar one announced last week between

Warner Bros Discovery and Walt Disney - to offer a bundle of the

Disney+, Hulu and Max streaming services.

"We've been bundling video successfully and creatively for

60 years. And so this is the latest iteration of that, and I

think this will be a pretty compelling package," Roberts said.

Broadband subscriber loss has been a sore point for Comcast ( CMCSA )

as it faces intense competition from telecom firms such as

T-Mobile and Verizon. The trend is expected to

continue with the end of a federal internet subsidy program this

month.

Churn - the percentage of customers who have stopped using a

company's services - has also long been one of the key problems

facing the streaming industry, with more companies turning to

bundling to combat subscriber losses and to better compete with

industry leader Netflix ( NFLX ).

Peacock, the streaming service of Comcast's ( CMCSA ) unit

NBCUniversal, reported 34 million subscribers at the end of the

first quarter, compared with Netflix's ( NFLX ) 269.60 million

subscribers and 117.6 million at Disney+, excluding Hotstar.

In an effort to attract more customers, Comcast ( CMCSA ) in April

launched a low-cost prepaid service plan called "Now" for

broadband, TV and mobile, with flexible monthly options.

More details about the Comcast ( CMCSA ) streaming bundle are expected

to be released later this month.