Paramount+ Raises Price As It Adds Showtime, Sets Launch Date
The Paramount+ and Showtime bundle now has a launch date.
Paramount says that it will launch its new Paramount+ with Showtime service on June 27, bringing Showtime’s programming into the main Paramount+ experience. The new tier will become the cornerstone plan for Paramount+, and will cost $11.99 per month (up from $9.99 currently for the top tier of Paramount+, but on par with the price for the current Paramount+ with Showtime offering).
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However, Paramount will also be raising the price for its “Essential” plan, which will not include Showtime content. That plan will cost $5.99 per month moving forward (it currently costs $4.99 per month). Paramount also offers Pluto TV, its free, ad-supported streaming service.
Despite the pricing changes, the company’s suite of streaming offerings remain competitive priced compared to others. Max, for example, which launches Tuesday, has an ad-supported tier that starts at $9.99, and an ad-free tier at $15.99. Netflix’s ad tier starts at $6.99, with its standard plan at $15.49.
The price hike has been expected ever since Paramount announced its intent to merge Paramount+ and Showtime earlier this year. The more premium Showtime programming will now live alongside the broad Paramount+ originals like the Taylor Sheridan universe, Nickelodeon content, and live sports through CBS. Executives at the company had teased the hikes in a February earnings call.
The company says that it will sunset its Showtime app and rebrand the Showtime linear channel by the end of the year, a rebranding that will bring some Paramount+ programming to its pay-TV offering for the first time.
Paramount has been merging the Paramount+ and Showtime teams since January, with Showtime hit by layoffs in February.
“From Yellowjackets to Your Honor, Showtime is home to big, premium, sophisticated series which will now be complemented with broad, blockbuster originals and movies in the alignment of Paramount+ with Showtime,” said Chris McCarthy, president & CEO for Showtime/MTV Entertainment Studios & Paramount Media Networks, in a statement. “Together, Paramount+ with Showtime will provide our consumers a much more rewarding experience with our vast set of unique originals and deep library of iconic shows and hit films.”
“This summer, Paramount+ will officially become the streaming home for Showtime, further advancing our lead in being the total household service,” added Tom Ryan, President & CEO Paramount Streaming. “By integrating the Showtime premium and critically acclaimed portfolio with the service’s already broad and popular slate, all at a competitive price, we will solidify Paramount+ as a cornerstone in streaming.”
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