Clark Howard

PRICE HIKE: Paramount+ Will Increase Subscription Fees This Summer

Paramount+ is about to be more expensive for most subscribers.

The Paramount Global-owned video streaming service recently announced that it will be raising prices for both its ad-supported and ad-free subscription options. The increases, which will impact both new and existing subscribers, take effect this summer.

Let’s take a look at the details.

Paramount+ Will Charge More for Subscriptions in August

Beginning August 20, 2024, it will cost new customers more to sign up for most Paramount+ subscription tiers. And many existing monthly customers will receive a price hike on an upcoming bill.

Paramount+ announced that it will increase the price of its “Paramount+ with Showtime” plan by $1 to $12.99 per month. This impacts all customers: New signups after August 20 will pay $12.99 per month and existing customers will see the increase on their next bill on or after September 20.

The price of the ad-supported "Paramount+ Essential" plan will jump $2 per month to $7.99 for new customers. Ouch!

However, there is some good news for those of you who are subscribing now: Existing Paramount+ Essential customers will not see a price increase at this time. They will continue to pay $5.99 per month.

And more good news for those of you with a year-long commitment to the service: The price of annual subscriptions will not change at this time.

Here’s a look at how the subscription tiers will look by August:

Is Paramount+ Still Worth It?

Traditionally, Paramount+ (formerly known as CBS All Access) has positioned itself as one of the more affordable video streaming services on the market.

But several price increases in recent years have put that status into question. It soon will cost MORE to have an ad-supported subscription to Paramount+ ($7.99 per month) than it does for an ad-supported Netflix subscription ($6.99).

That may make you think twice about whether you still want to pay for the service.

Paramount+ is still the streaming home for most things CBS and Nickelodeon branded, so if those are networks your household consumes often you may want to stay. It also is the most efficient way to consume Showtime content, as well.

And if you're thinking of leaving for alternatives, it's worth noting that Paramount+ is not alone in its decision to up prices this summer. NBC's rival streaming service Peacock also announced a price increase. And Warner Bros. Discovery also announced an increase for certain tiers of its Max service.

Will the upcoming price increase change your mind about a Paramount+ subscription? We’d love to hear your thoughts in the community.

The post PRICE HIKE: Paramount+ Will Increase Subscription Fees This Summer appeared first on Clark Howard.

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