Paramount Global plans to raise the price on Paramount+ subscriptions in the third quarter of 2023.
A monthly ad-free Paramount+ subscription will increase from $9.99 to $11.99, including Showtime content at no additional charge.
- The ad-supported plan will also increase in price, from $4.99 per month to $5.99.
- The price changes will apply to both existing and new customers, and will coincide with the formal launch of the rebranded Paramount+ with Showtime platform.
- Paramount executives told investors they expect to see some reduction in overall subscriber numbers when the price change goes into effect, in part due to a shift in how these numbers are being compiled and calculated.
- Paramount Global also announced an "impairment charge" related to content of between $1.3 billion and $1.5 billion, as the company realigns its Showtime strategy.
