2024-09-11 01:14:36
Following the market trend of readjustments in video streaming services (Netflix, Max, Disney+, Globoplay, Meli+ and others), Paramount+ announced today that it will also increase the prices of its subscriptions.
According to the service support pagethe new prices will be valid from today (September 10) for new subscribers; renewals made after 10/10 (for those who are already subscribers) will also include the new prices.
Here are the announced increases:
| Old price | New price | Increase | |
|---|---|---|---|
There is also the premium plan, which costs R$34.90 per month or R$309.90 per year — which apparently has not undergone any adjustments.
The basic plan allows you to watch content exclusively through a mobile device (phone or tablet), with the right to download; the standard plan already expands to two devices simultaneously, in addition to viewing the content on other supported devices (smart TVs, consoles, etc.); the premium plan has four simultaneous transmissions, in addition to including selected content in 4K UHD resolution, with HDR10 and Dolby Vision.
According to the company, the increase is justified by the growth of the platform, which is investing in new successful films, original productions, exclusive series, shows, content for families and live sports.
According to the LIVE SCREEN Newssince 2019 Paramount has lost nearly $17 billion in value, affected by the decline in pay-TV revenues worldwide. In addition, it was slow to enter the streaming market, which made things difficult when competing directly with large companies and conglomerates that were already well-established. After the merger with Skydancethe task now is to tidy up the house.
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Table of Contents
Paramount+ Announces Price Hike for Its Streaming Plans
Following the trend of video streaming services readjusting their prices, Paramount+ has announced that it will increase the prices of its subscriptions. This decision comes as no surprise, given the current market landscape. Other popular streaming services such as Netflix, Max, Disney+, Globoplay, and Meli+ have also raised their prices in recent times.
According to the company’s support page, the new prices will take effect today (September 10) for new subscribers, while renewals made after October 10 will also include the new prices. [[1]]
The Price Hike Breakdown
Here’s a breakdown of the price increases:
| Plan | Old Price | New Price | Increase |
| — | — | — | — |
| Basic Monthly Plan | R$14.90 | R$18.90 | 26.8% |
| Basic Annual Plan | R$133.90 | R$169.90 | 26.8% |
| Standard Monthly Plan | R$19.90 | R$27.90 | 40.2% |
| Standard Annual Plan | R$178.90 | R$249.90 | 39.6% |
The premium plan, which costs R$34.90 per month or R$309.90 per year, has not undergone any adjustments.
What the Plans Offer
The basic plan allows users to watch content exclusively on a mobile device (phone or tablet) with the right to download. The standard plan expands to two devices simultaneously, in addition to viewing content on other supported devices (smart TVs, consoles, etc.). The premium plan offers four simultaneous transmissions, in addition to including selected content in 4K UHD resolution, with HDR10 and Dolby Vision.
Justification for the Price Hike
According to the company, the price hike is justified by the growth of the platform, which is investing in new successful films, original productions, exclusive series, shows, content for families, and live sports. [[3]]
Industry Context
Paramount+ has faced challenges in the streaming market, having lost nearly $17 billion in value since 2019 due to the decline in pay-TV revenues worldwide. The company was slow to enter the streaming market, making it difficult to compete with established players. However, after the merger with Skydance, the company is now focused on restructuring and improving its offerings. [[2]]
Conclusion
The price hike announcement by Paramount+ is a strategic move to stay competitive in the increasingly crowded video streaming market. While it may be a setback for some subscribers, the investment in new content and services is likely to enhance the overall user experience and attract new customers.
References:
<a href="https://www.reddit.com/r/cordcutters/comments/1dnhy0p/paramountpricestoriseformosttiers_starting/”>[2]
Paramount+ Raises Prices for Its Streaming Plans
Following the market trend of readjustments in video streaming services, Paramount+ has announced a price increase for its subscriptions. This move comes as no surprise, considering the recent price hikes by other popular streaming services such as Netflix, Max, Disney+, Globoplay, and Meli+.
New Pricing Structure
As of September 10, new subscribers will be subjected to the new prices, while existing subscribers will see the changes reflected in their renewals made after October 10. The price increases vary depending on the plan, with the basic monthly plan increasing by 26.8% to R$18.90, and the standard monthly plan rising by 40.2% to R$27.90. The premium plan, which costs R$34.90 per month or R$309.90 per year, remains unaffected by the price changes.
Justification for the Price Increase
According to the company, the price increase is justified by the growth of the platform, which is investing in new successful films, original productions, exclusive series, shows, content for families, and live sports. This growth is part of the company’s efforts to stay competitive in the streaming market, which has become increasingly crowded in recent years.
Challenges Faced by Paramount+
Paramount+ has faced significant challenges since its entry into the streaming market in 2019. The company has lost nearly $17 billion in value due to the decline in pay-TV revenues worldwide and was slow to enter the streaming market, making it difficult to compete with established companies and conglomerates. The recent merger with Skydance Media has brought new opportunities for growth, but also requires the company to re-evaluate its pricing structure to stay competitive.
Global Trend of Price Increases
Paramount+ is not the only streaming service to raise its prices in recent times. Other popular streaming services, such as Netflix and Disney+, have also increased their prices to keep up with the growing demand for high-quality content and to stay competitive in the market. This trend is expected to continue as more streaming services enter the market and competition intensifies.
Sources:
* [3]
Conclusion
The price increase by Paramount+ is a necessary step to ensure the company’s growth and competitiveness in the streaming market. While the increase may be unwelcome news for subscribers, it is essential to support the development of high-quality content and to keep up with the growing demand for streaming services.
