Paramount+ has announced that they will be increasing their subscription prices for fans in Tulsa who enjoy watching shows like Tulsa King, Star Trek, and the Sonic the Hedgehog spinoff. According to CNBC, the price of the Paramount+ with Showtime plan will be raised to $13 a month from $12, while the Essential plan will now cost $8 a month, up from $6. The price hike will go into effect on August 20 for new customers, while existing users will have until around September 20 to adjust to the new prices.
One positive aspect of this increase is that current subscribers to the Essential plan will not see a price hike, at least for now. Only new subscribers and current Paramount+ with Showtime users will be affected by the price increase. This is not the first time Paramount Global has raised prices, as they did so just last year.
Despite the price increase, Paramount+ is still seeking a buyer for the streaming service. A proposed merger with Skydance and National Amusements fell through recently. However, the company remains optimistic about Paramount+’s success, citing 71 million paying customers. This places Paramount+ in the middle of the pack compared to competitors like Peacock with 31 million subscribers and Max with 97 million.
While Paramount+ has a strong lineup of content, including popular shows like Knuckles and Tulsa King, some subscribers are reevaluating their subscription. As one fan mentioned, once they have watched all the Star Trek content available, they may consider canceling their subscription. This sentiment is not unique to Paramount+, as other streaming services like Max, Peacock, Disney+, Apple TV+, and Netflix have also raised their prices in recent months.
Overall, the trend of price increases in the streaming industry, known as “streamflation,” is becoming more common. Subscribers may need to carefully consider which services they are willing to pay for as prices continue to rise across the board.
