Paramount is betting that new and existing subscribers to Paramount+ are big fans of Showtime. Executives touted thr integration of the streaming service and the cable television channel as a key justification for raising prices for the direct-to-consumer service’s premium tier Thursday as they discussed the media giant’s earnings.
Later this year, the top tier of Paramount+ will rise from $9.99 per month to $11.99 per month. The cheaper, ad-supported Essentials tier, which will not include Showtime, will increase from $4.99 to $5.99 per month.
Consumers who already pay for the Paramount+/Showtime bundle will not be affected by this price increase. “We all know streaming represents incredible value for consumers and the Paramount+ offering is far from the industry price leader.
We are on the value end of the pricing spectrum,” Paramount Global CEO Bob Bakish told analysts on the earnings call. “And so, in 2023 we will raise prices, both for Paramount+ Premium and Essential, both in the U.S.
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