.paramountplus will increase their subscription price for the first time since launching in 2021.
Paramount+, the streaming service that is home to hit shows such as 1923, Star Trek: Picard and Tulsa King, is set to undergo a price hike later this year, Variety reports. It will mark is the first time Paramount+ has increased its subscription cost since initially launching in March of 2021.
The price of the Paramount Global-owned platform's "Essential" subscription plan, which does not include access to Showtime but does include commercials, will rise one dollar per month, from $4.99 to $5.99. The service's "Premium" subscription plan, which includes Showtime and is commercial-free, will go up two dollars per month, from $9.99 to $11.99.
COLLIDER VIDEO OF THE DAY The price hike was first announced by Paramount Global chief financial officer Naveen Chopra, who also revealed that the company intends to take a $1.3 billion-$1.5 billion write-down as a result of merging Paramount+ and Showtime in the United States. The corporation hopes to save $700 million as a result of amalgamation.
In addition to its vast library of beloved primetime and exclusive streaming shows, Paramount+ offers daytime television, news and sports , and a massive catalog of movies from its myriad film studios and television outlets, including Paramount Pictures, MTV, Comedy Central, BET, Nickelodeon, and the Smithsonian Network.
Paramount+ is just the latest streaming service to undergo such a price increase. Netflix upped the cost of their subscription plans last winter, and have recently taken steps to prohibit account sharing as well. Disney+ followed with a price hike of their own in December, and HBO Max just announced a cost increase of their own last month.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Paramount+ to Raise Subscription Prices for Premium and Essential TiersThe company also expects an impairment charge of $1.3 billion to $1.5 billion in the first quarter of 2023 as Paramount realigns its content strategy with Showtime.
Read more »
Paramount swings to a loss but sees record subscriber growth for Paramount+Shares of Paramount Global Inc. were off about 3% in premarket trading Thursday after the media giant fell a bit shy of revenue expectations for its latest...
Read more »
Paramount Ends 2022 With 77 Million Streaming Subs as Paramount+ Adds 10 Million in Q4Paramount surpassed 77 million streaming subscribers in Q4, adding 10 million to Paramount+ alone to reach nearly 56 million customers for that platform. In comparison, the paid streamer added 4.6 …
Read more »
Paramount Plans Price Increases as It Hits 56 Million SubscribersParamount Global reported 9.9 million in streaming subscriber additions. The company plans price increases this year.
Read more »
Inflation report: Pace of consumer price increases slows to 6.4%, but price pressures re-emergeThe pace of consumer price increases eased again in January compared with a year earlier, the latest sign that the high inflation that has gripped Americans for nearly two years is slowly easing.
Read more »
Inflation report: Pace of consumer price increases slows to 6.4%, but price pressures re-emergeThe pace of consumer price increases eased again in January compared with a year earlier, the latest sign that the high inflation that has gripped Americans for nearly two years is slowly easing.
Read more »