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Paramount+ will raise its prices again by as much as $2 a month starting in August

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In mid-2023, the Paramount+ streaming service increased its prices as part of adding content from the Showtime cable TV service. Today, it was announced that prices for accessing the service will be going up again for new subscribers, along with some existing users.

According to The Hollywood Reporter, new subscribers to the ad-based Paramount+ Essential plan will see a price hike from $5.99 a month to $7.99 a month, an increase of $2. That price increase will begin on August 20. Current subscribers to the Paramount+ Limited Commercial plan will see their prices go up by $1 a month to $7.99 a month on August 20.

The Paramount+ with Showtime plan, which also removes ads, will increase for new subscribers from $11.99 a month to $12.99 a month, again on August 20. Current subscribers for that plan will see their price go up by the same amount on or after September 20.

The good news is that the service is not increasing the prices of its annual plans. That means new and current subscribers will be able to get Paramount+ Essential for $59.99 a year and Paramount+ with Showtime for $119.99 per year. Also, current subscribers to the Paramount+ Essential plan will be able to keep their $5.99 a month price.

Paramount stated in its last quarterly report back in April that in March 2024, Paramount+ had a total of 71.2 million subscribers worldwide. These latest price increases come as Paramount+ keeps adding new and original content to its service. That includes the upcoming launch of Star Trek: Starfleet Academy, a new series in the NCIS franchise, NCIS: Tony & Ziva, and more. We are also still waiting to see if the service will renew the Halo live-action series, based on Microsoft's sci-fi shooter game franchise, for a third season.

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