A major streaming platform has followed through on a planned price hike.
Paramount+ announced in November that it would be increasing prices for both its ad-supported and ad-free plans and that went into effect on Jan. 15. It’s the first price increase since 2024.
In an email to subscribers, Paramount+ said its ad-supported tier, called Paramount+ Essential, will cost $8.99 per month, while the annual subscription will cost $89.99 per year. That’s an increase from $7.99 per month, or $59.99 per year.
Paramount+’s ad-free tier, Paramount+ Premium, will also increase by $1, going from $12.99 per month to $13.99 per month. The annual plan will cost $139.99, as opposed to $119.99.
“These changes will fuel continued reinvestment in the user experience and deliver an even stronger slate of programming for our customers in the year ahead and beyond,” a news release said.
Existing customers will see the new price beginning with the February bill. The news comes just before Paramount will stream its first UFC fight on Jan. 24.
Price increases are common with streaming services, which are in a constant battle to house the biggest and best libraries of content. Disney+ and HBO Max are also among those to announce recent price increases.
Paramount will also be terminating free trials for any new users moving into the new year.
