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Paramount+ is increasing its prices for many of its streaming tiers, several outlets reported Monday, following price increases at many other entertainment companies.
Beginning August 20th for new subscribers, the ad-free Paramount Plus with Showtime plan will increase $1 to $12.99 a month. The Paramount+ Essential plan (with ads) plan will increase $2 to $7.99 a month, Variety reported.
For existing Paramount Plus with Showtime subscribers, the increase will kick in after September 20th, but rates will remain unchanged for current Paramount+ Essential subscribers at $5.99 and annual subscription plans, according to Variety.
Prices have also recently increased at Max, owned by Warner Brothers, and Peacock, owned by Comcast, as The Wrap noted.
Monday’s announced price increases come after a proposed merger plan between Paramount Global and Skydance Media was called off on June 11 by Shari Redstone, head of the holding company behind Paramount.
On Tuesday, Paramount is set to hold a delayed employee town hall, originally scheduled for June 5, where current co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins are expected to further outline their plans for the company.
The three co-CEOs also plan to detail their plans further at Paramount’s next earnings report in August, CNBC reported.