Paramount Global is raising subscription prices for its TV streaming services, as the media giant looks to make significant changes within its business model to clear debt and improve profitability.
In the US, the ad-based “Paramount+ Essential” plan is rising from $6 to $8 per month, while the ad-free “Paramount+ with Showtime” plan is going from $12 to $13. In comparison, the price of a Paramount+ monthly subscription in the UK is £7.
These changes bring the service’s monthly ad-based plan in line with the likes of Disney+ which offers an $8 per month plan as its cheapest comparable subscription. Netflix has a cheaper ad-based plan which costs $7 per month.
The changes will come into effect starting on 20th August 2024, however, existing customers won’t see an increase until 20th September. Paramount+ last raised prices in June of when it merged with Showtime.
Paramount’s streaming services have just over 71 million subscribers, compared with Netflix’s reported total of nearly 270 million and Disney’s total of almost 154 million. Other streaming services, such as Apple TV+ and Max, have also raised their prices in the last year, so it is unsurprising to see Paramount follow suit.
Some of the most popular shows on “Paramount+ with Showtime” include Halo, Yellowjacketsand Mayor of Kingstown. The next Dexter series is coming soon and a second season of the Halo series aired earlier this year.
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