Paramount+’s prices are rising.
Per Variety, Paramount Global has announced that it will be raising the prices for most Paramount+ plans this coming August.
How much is the Paramount+ price increase?
The Paramount+ Essential plan (with ads) is increasing by $2, meaning the price will be $7.99 per month for all new subscribers. The ad-free Paramount+ With Showtime plan, meanwhile, is increasing by $1, with the new price then being set at $12.99.
Additionally, subscribers to the Paramount+ Limited Commercial plan will see their bill increase by $1 to $7.99 per month.
The pricing will go into effect on August 20, 2024, for all new subscribers.
Existing Paramount+ With Showtime subscribers will see the price hike go into effect on their next billing date on or after September 20, 2024. The Paramount+ Essential price of $5.99 will remain unchanged at this time for all current monthly subscribers.
The annual subscription plan for both tiers — $119.99 per year for Paramount+ With Showtime and $59.99 per year for Paramount+ Essential — will also remain unchanged.
“During the first quarter of 2024, Paramount+ gained 3.7 million net subscribers, helped by CBS’s telecast of the Super Bowl carried on the streaming platform, to stand at more than 71 million total,” Variety’s article notes. “But it’s still losing millions: Revenue from the company’s streaming businesses rose 24% to $1.88 billion and the direct-to-consumer division cut operating losses by 44%, to $286 million. The company has told Wall Street it expects the streaming biz to achieve profitability in the U.S. by the end of 2025.”
The company noted its “expansive slate of live sports, breaking news, and premium originals” when announcing the upcoming price hikes. Original Paramount+ With Showtime series include Yellowjackets, Star Trek: Strange New Worlds, Mayor of Kingstown, and more.
The news of the price hikes comes shortly after talks about potentially merging Paramount Global with Skydance Media fizzled earlier this month.
