The latest streaming service to raise its prices is Paramount+. According to reports, Paramount Global announced plans to raise prices in 2023 as part of its Q4 2022 earnings.
The monthly fee for Showtime’s premium Paramount+ tier will increase to $11.99 from $9.99. The monthly cost of the essential tier, which does not include showtime, will increase from $4.99 to $5.99. Other than sometime this year, we have no idea when exactly this change will take place.
The most recent in a long line of price increases for streaming services is this one. Disney+, Hulu, HBO Max, and Apple TV+ have all seen price increases over the past six months, and Netflix has continued its well-documented crackdown on password sharing.
According to Bob Bakish, CEO of Paramount Global, the business faced significant “headwinds” in 2022 as a result of a slowdown in advertising and other economic factors that restricted consumer spending. Additionally, Bakish stated that the business is “at peak investment in 2023” in Paramount+.
Star Trek, Top Gun Maverick, the Halo television series, and South Park specials are all available on Paramount+. “Paramount+ is starting to take shape as a formidable foe in the streaming space, and has the potential to one-day rival services like Netflix and Disney+ when it comes to the quantity and quality of its originals and its back catalog of shows and movies,” they wrote in our review of the service at the end of last year.