.paramountplus will increase their subscription price for the first time since launching in 2021.
Paramount+, the streaming service that is home to hit shows such as 1923, Star Trek: Picard and Tulsa King, is set to undergo a price hike later this year, Variety reports. It will mark is the first time Paramount+ has increased its subscription cost since initially launching in March of 2021.
The price of the Paramount Global-owned platform's "Essential" subscription plan, which does not include access to Showtime but does include commercials, will rise one dollar per month, from $4.99 to $5.99. The service's "Premium" subscription plan, which includes Showtime and is commercial-free, will go up two dollars per month, from $9.99 to $11.99.
COLLIDER VIDEO OF THE DAY The price hike was first announced by Paramount Global chief financial officer Naveen Chopra, who also revealed that the company intends to take a $1.3 billion-$1.5 billion write-down as a result of merging Paramount+ and Showtime in the United States. The corporation hopes to save $700 million as a result of amalgamation.
In addition to its vast library of beloved primetime and exclusive streaming shows, Paramount+ offers daytime television, news and sports , and a massive catalog of movies from its myriad film studios and television outlets, including Paramount Pictures, MTV, Comedy Central, BET, Nickelodeon, and the Smithsonian Network.
Paramount+ is just the latest streaming service to undergo such a price increase. Netflix upped the cost of their subscription plans last winter, and have recently taken steps to prohibit account sharing as well. Disney+ followed with a price hike of their own in December, and HBO Max just announced a cost increase of their own last month.
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