Apple is in early discussions with record labels about bundling Apple Music and Apple TV+ as part of a “super-bundle of media content” for one flat monthly rate, according to a report from the Financial Times.

While some record labels are said to be open to the idea, the report claims at least one big label has voiced concerns, adding that the industry is growing more wary about its relationship with Apple. In particular, the report claims record labels are worried that the bundle would lead to lost revenue.

The report adds that the two sides have not yet discussed a pricing formula, so it is unclear what Apple would charge for its Apple Music and Apple TV+ bundle. It is also unclear if the bundle would extend to Apple’s other subscription-based offerings like Apple News+, Apple Arcade, AppleCare+, and iCloud storage.

Apple Music costs $9.99 per month for individuals in the United States, with a $4.99 tier for students. Apple TV+ will cost $4.99 per month, with a free one-year subscription available to customers who purchase any iPhone, iPad, Apple TV, iPod touch, or Mac as of September 10 and later.

The total cost of Apple Music, Apple TV+, Apple News+, and Apple Arcade rounds to $30 per month, so the bundle would presumably undercut that amount to incentivize customers to subscribe to all of the services.

Apple TV+ launches November 1.