From CNBC: 2024-06-24 13:44:02

Paramount Global is raising the price of its Paramount+ streaming service, with the Paramount+ with Showtime plan increasing by $1 to $12.99 a month, and the Paramount+ Essential option rising by $2 to $7.99 a month for new subscribers. The price hike takes effect in August for new customers and in September for existing subscribers. Other media companies like Comcast’s NBCUniversal and Warner Bros. Discovery have also announced price increases for their streaming services.

Paramount had merged Showtime and Paramount+ platforms last year to streamline content spending. The company previously raised Paramount+ prices and added 3.7 million subscribers in the first quarter, bringing the total to 71 million. Despite growth, Paramount still faced losses related to its streaming service. After National Amusements halted talks with Skydance on a potential merger, Paramount is now led by a trio of leaders focused on turning the company around by reducing debt, exploring streaming joint ventures, cutting costs, and selling noncore assets. More plans will be revealed during Paramount’s earnings report in August.



Read more at CNBC: Paramount+ to increase prices for its streaming plans