Recently we learned that Paramount+ will be merging with Showtime. Now paramount announced that this means that Paramount+ will be going up in price.
“We all know streaming represents incredible value for consumers and the Paramount Plus offering is far from the industry price leader. We are on the value end of the pricing spectrum,” said Paramount Global CEO Bob Bakish during the 4th quarter 2022 earnings call. “And so in 2023, we will raise prices both for Paramount Plus Premium and Essential, both in the U.S., and select international markets.”
Paramount+ Essential will be going up from $4.99 to $5.99 a month. Paramount+ Premium will be going up from $9.99 to $11.99 a month.
These price changes will happen in the 3rd quarter of 2023 when Paramount+ and Showtime merge.
In 2022 Paramount lost $1.8 billion on their direct-to-consumer streaming services. Now it seems that Paramount is hoping to cut costs by merging Showtime and Paramount+ and raising its price.
Paramount now has about 77 million direct-to-consumer subscribers as of the end of 2022.