One Of The Most Popular Streaming Services Is Raising Prices
Paramount+ is raising its monthly subscription fee.
With the fight between top streaming platforms like Netflix, Peacock, and Hulu raging more than ever, companies are continuously hungry for subscribers and the contents of their wallets. The number one way to make more cash in this business is to up the subscription price, with Paramount+ being the latest streamer to do so. According to Variety, customers that currently pay $9.99 for the premium tier will soon be shelling out $11.99, while those set at the essential tier, which includes ads, will see their bill jump from $4.99 to $5.99.
The news comes shortly after the reveal that Paramount+ will be taking over Showtime, with the two networks linking together in a way similar to the Warner Bros. Discovery merger that happened last year. While we do know what the new prices will be set at, it isn’t yet clear when users can expect their bills to go up. As of right now, it sounds like we can expect that price increase to hit following the official merger sometime later this year.
After announcing that they’d be joining Paramount+, Showtime revealed the cancellation of several projects both in the works and already out. The network dropped the Jon Bernthal-led series adaptation of American Gigolo as well as the Swedish vampire film-turned-American-film-turned-series Let the Right One In. They also axed the unaired series Three Women, which is led by Betty Gilpin, Gabrielle Creevy, DeWanda Wise, and Shailene Woodley, but the project was saved by STARZ who picked it up from Showtime’s cutting room floor.
On the bright side, the price bump will mean that in addition to Paramount+’s wide catalog of original productions like Star Trek: Picard and Wolf Pack, and major blockbuster motion pictures including Top Gun: Maverick, Everything Everywhere All at Once, and Scream 5, users will also have access to Showtime’s wide array of content. While they may be dropping some titles to better accommodate the merger and cut down on finances, there will still be plenty of favorites for audiences to sink their teeth into including Dexter and all the spinoffs in the works, Yellowjackets, and The L Word: Generation Q.
As far as pricing goes, Paramount+’s new rollout shouldn’t make their users clutch their pearls as, compared to their competitors, the change isn’t very bad. If you don’t mind being interrupted with ads throughout the latest episode of your favorite show or movie, the $5.99 price tag is less than what other streamers like Netflix, HBO Max, and even Hulu charge. Likewise, the ad-free tier that will soon clock in at $11.99 is considerably lower than HBO Max’s and Hulu’s same offering for $15.99.
While Paramount+’s decision to raise their prices may come as a bummer to many of their subscribers who aren’t going to be happy seeing more money coming out of their bank accounts each month, considering the recent major changes to other streamers like Netflix who will be cracking down on password sharing, it could be a lot worse. An obvious move to make more money, hopefully the few dollar raise will be enough to keep Paramount+ and Showtime afloat and not thirsty for more dollar signs.
