Paramount Global said it was increasing prices for its Paramount Plus streaming service, continuing a trend that is giving sticker shock to viewers who have cut the cord as pay TV became more expensive.
The cost of Paramount Plus With Showtime is rising by $1 to $12.99 per month, while the cost of Paramount Plus Essential is jumping $2 to $7.99 a month for new subscribers.
The new pricing is effective August 20 for new customers.
Existing Paramount Plus With Showtime customers will see the new rates in their bills after Sept. 20.
Current Paramount Plus Essentials customers will continue to pay $5.99 a month. Paramount Plus subscribers on the limited commercial plan will see their monthly cost rise $1 a month.
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Media companies have been raising prices in order to cut the amount of red ink most of the streaming services have been incurring.
For the second quarter, Paramount reported streaming losses of $286 million.
Paramount Plus offers subscriber a menu of live sports, breaking news and original program including Mayor of Kingstown, The Chi, Lawmen: Bass Reeves, Knuckles, Fellow Travelers, Yellowjackets and Star Trek: Strange New Worlds.
It also has movies such as Bob Marley: One Love, Mean Girls, Top Gun: Maverick and Transformers: Rise of the Beasts.
