The entertainment giants’ new package will be available to customers on all three streaming platforms, with executives adding they will offer plans with and without adverts but did not reveal how much they will charge customers.

The move comes as Disney and Warner Bros face competition from rivals, including Netflix and Amazon Prime Video.

Warner Bros Discovery executive JB Perrette said in a statement: “This new offering will help drive incremental subscribers and much stronger retention.”

The two media titans added they will reveal more details about the plans in the coming weeks.

They have been under increased pressure to add more subscribers to their streamers amid the rose of sign-ups to Netflix and Amazon Prime.

Disney+ is best known for its family-friendly shows and films, while Warner’s Max is home to HBO and more adult-focussed content.

In February, Walt Disney’s ESPN, Fox Corp and Warner Bros Discovery announced a new sports platform that is set for launch in the autumn.

Disney and Warner Bros Discovery jointly own hugely varied portfolios of sports rights including those for the FIFA World Cup, Formula 1, NFL, NBA and Major League Baseball.

Disney said in its newest quarterly financial results its Disney+ service had gained more than six million subscribers around the world between January and March, excluding India.

The streaming service now has more than 117 million subscribers.

Disney also told investors a planned password crackdown will start in the summer and should help drive up subscriber numbers.