In the coming months, subscribers to Paramount+ will see a price increase for both the essential plan and the plan that includes Showtime.
Notably, for new subscribers Paramount+ essential plan will increase to $7.99 per month from the previous $5.99 per month. Meanwhile, the Paramount+ with Showtime plan will see a $1 increase in the monthly plan bringing the total cost to $12.99. This change will not affect existing monthly subscribers of the essential plan, and the pricing for both annual subscription plans will remain the same.
Current subscribers to Paramount+’s limited commercial plan will see a $1 increase, raising the monthly cost to $7.99. Beginning August 20, the new pricing will be effective for all new Paramount+ customers. Furthermore, Paramount+ with Showtime plan existing subscribers will experience the price hike beginning with their next billing date on or after September 20.
This price adjustment by Paramount+ occurs alongside a trend of rate hikes among media and entertainment companies such as NBCUniversal’s Peacock, Spotify, and Warner Bros. Discovery’s Max. These increases are driven by enhanced programming such as the new season of House of the Dragon on Max, Olympics on Peacock, and audiobooks on Spotify and not only encourage more customers to opt for advertising-supported tiers but also reflect an effort to make streaming services profitable.
Notably, the essential plan from Paramount+ features limited commercial interruptions and excludes the local live CBS station, although NFL on CBS and UEFA Champions League can be accessed through separate live feeds. In contrast, the plan with Showtime offers a commercial-free experience. For comparison, Disney+ offers its plans at $7.99 with ads and $13.99 without ads. Netflix charges $6.99 per month for its ad-supported plan and $15.49 per month for the ad-free option.
The price increase from Paramount comes at a time when the company’s future, including its streaming services, remains uncertain following Shari Redstone’s rejection of a takeover bid from a consortium led by Skydance and RedBird Capital.