Paramount+ prices will rise when the streaming platform merges its premium tier with linear TV channel Showtime.
First reported by The Hollywood Reporter on January 30, the new TV channel and streaming tier is set to launch later this year and will be rebranded as “Paramount+ with Showtime.”
The news grew further following an investor call on Feb. 16 that confirmed pricing will change for Paramount+ customers following the merger.
Paramount+ Essential will drop from $4.99 per month to $5.99 per month, while Paramount+ will drop from $9.99 per month to $11.99 per month. The most expensive tier is commercial-free and includes live programming from local CBS stations.
There is still a wait for the price increase, which will take effect when the new service launches in the third quarter of 2023, which is between July and September.
Paramount CEO Bob Bakish has also confirmed that the price hike will impact some countries outside of the US, although we don’t know the specifics. He says, “We’re on the value side of the pricing spectrum, and so in 2023 we’ll be raising prices – for both Paramount Plus Premium and Essential, both in the US and in select international markets.”
Paramount+ has added 9.9 million subscribers over the past few months, many of whom have signed up to watch Top Gun: Maverick. With other streaming services increasing their prices, this news is not so surprising.
The merger will bring selected programs from Paramount+ to television broadcast. This could include originals such as Halo and the final season of Star Trek: Picard. These will join Showtime shows such as Yellowjackets, Billions, Dexter and The Chi.
“Now, with Showtime content integrated into our flagship streaming service and select Paramount+ originals joining the linear offering, Paramount+ will become the definitive cross-platform 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 ax in the restructuring, with Let the Right One In, American Gigolo and Three Women all confirmed to be no longer 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 already offers packages with Showtime. 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+ stacks up against competitors like 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.
