Paramount Plus Announces Steep Price Increases: New Subscribers Feel the Pinch

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If you thought last year’s Paramount Plus price increase was the last, the company will apply another one in 2024. Paramount Plus has been struggling to obtain the profit it initially expected. The new prices are part of a strategy to recover up to $500 million in costs.

Paramount Plus is one of the best-known streaming services, although it is not the most used. It offers multiple plans with different perks and benefits. Now, starting August 20, Paramount Plus with Showtime, Paramount Plus Essential, and Paramount Plus with limited commercials plans will become more expensive for new subscribers. However, the price of one of them will remain the same for current subscribers.

There’s a new price increase on Paramount Plus plans for 2024

Starting with the Paramount Plus with Showtime plan, it will cost $12,99 per month (previously $11,99). Regarding the Paramount Plus with limited commercials plan, it will cost $7,99 monthly (from $6,99). Finally, the Paramount Plus Essential plan will also cost $7,99 (from $5,99).

It’s worth noting that current subscribers of the Paramount Plus Essential plan will maintain the previous price. They will only start paying the new prices when they change to another one. On the other hand, current Paramount Plus with Showtime and Paramount Plus with limited commercials plan subscribers will pay the new prices starting from their next billing date or after September 20.

Latest price rise is bigger than the previous one

As mentioned before, there was already a price increase in the Paramount Plus plans last year. Overall, the cost of most plans had increased by $1 per month. Now, there are plans that increase by up to $2.

The latest increase is part of the company’s strategy to recover some money. Paramount Plus shareholders had been notified of future moves to stabilize the company’s financial situation. The movements range from cutting jobs to increasing plan prices. Recently, the company’s plan to merge with Skydance fell apart, which was a huge blow.