Paramount+ prices will be increasing when the streaming platform merges its premium tier with the linear TV channel Showtime.
First reported by The Hollywood Reporter on 30 January, the new TV channel and streaming tier are set to launch later this year, and will be rebranded as ‘Paramount+ with Showtime’.
The news has further developed following an investor call on 16 February which confirmed that prices will be changing for Paramount+ customers as a result of the merger.
Paramount+ Essential will be going up from $4.99 per month to $5.99 per month, whilst Paramount+ will be increasing from $9.99 per month to $11.99 per month. The more expensive tier is ad-free and includes live programming from CBS local stations.
There is still a wait for the price increase, which will come into effect when the new service launches in Q3 2023, which is sometime between July and September.
Paramount CEO Bob Bakish also confirmed that the price hike will impact some countries outside of the US, though we don’t know specifics. He states: “We are on the value end of the pricing spectrum, and so in 2023, we will raise prices — both for Paramount Plus Premium and Essential, both in the US and select international markets.”
Paramount+ added 9.9 million subscribers over the past few months, with many signing up to watch Top Gun: Maverick. With other streaming services increasing their prices, this news doesn’t come as much of a surprise.
The merger will bring select programming from Paramount+ over to broadcast TV. This could include originals such as Halo and the latest season of Star Trek: Picard. These will join Showtime shows such as Yellowjackets, Billions, Dexter, and The Chi.
“Now, with Showtime’s content integrated into our flagship streaming service, and select Paramount+ originals joining the linear offering, Paramount+ will become the definitive multiplatform brand in the streaming space,” says Bakish, “and the first of its kind to integrate streaming and linear content in this way.”
Other existing Showtime series are facing the axe as part of the re-structuring, with Let the Right One In, American Gigolo, and Three Women all confirmed to no longer be moving forward. Further cuts are expected, and likely job losses, with Bakish warning that “this change brings uncertainty for the teams working on these brands and businesses.”
Paramount+ also offers bundles with Showtime already. These cost either $11.99 per month for the Essentials tier, or $14.99 per month for the Premium tier.
You can see how Paramount+ compares to rivals such as Netflix and Disney+ in our list of the best TV streaming services. Accounts start from $4.99/£6.99 per month, and new members can also get a free trial.