After a sub-par earnings report, the streaming service announced intent to increase the price its users pay in some markets.
Soon, Paramount+ subscribers will have to shell out more per month to access the same subscription tiers. The streaming service announced it will increase the cost of both its “essential” and “premium” plans in 2023, during a Thursday morning earnings call with investors.
Currently, the lower-cost, ad-based plan is $4.99 per month, but is set to rise to $5.99. The premium plan will hop from $9.99 to $11.99, announced the company’s chief financial officer, Naveen Chopra. The price hikes are scheduled for the third quarter of this year, and will happen upon launch of the forthcoming, integrated Paramount+ and Showtime service.
Notably, only the premium tier subscription will grant customers access to Showtime content. “Essential” subscribers will still be restricted only to Paramount’s standard fare (which is…fine)—all while paying an increased rate anyway.
