It’s about to get a bit more expensive to watch Tulsa King, Star Trek shows and that Sonic the Hedgehog spinoff. Paramount Global is once again raising prices for its streaming service, Paramount+, as reported by CNBC. This will bring the price of the Paramount+ with Showtime plan to $13 a month, up from $12, and the bare-bones Paramount+ Essential plan to $8 a month, which is an increase from $6.
The increase takes effect on August 20 for new customers, though pre-existing users will have until around September 20. There is a silver lining. Pre-existing customers who subscribe to the Essential plan will avoid a price increase, for now. So only current Paramount+ with Showtime users and all new subscribers will see the uptick. This follows another fee increase just last year.
Paramount Global has been trying to find a buyer for Paramount+ for months now, with no success. Most recently, a proposed merger with Skydance and National Amusements collapsed. The company, however, recently boasted that the streamer had amassed 71 million paying customers, though it still operates at a loss. As a reference point, Peacock has around 31 million subscribers and Max has just over 97 million.
That puts Paramount+ right in the middle of the pack. It does have a lot going for it in the IP department. Knuckles was well-received and my dad has had Tulsa King on continuous repeat for over a year. I subscribe, though I’m there exclusively for Star Trek. Once that well runs dry, which seems to be happening, I’m out.
Of course, Paramount+ is by no means sitting alone at the streamflation lunch table. Price increases have been running rampant the past year or two, and just about every major platform has been involved. Max raised subscription costs earlier this month and Peacock announced a similar move for later this summer. Disney+, Apple TV+ and Netflix have all recently raised prices.
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