Paramount+ Price Increase Announced, Making Netflix Cheapest Major Streamer Out There

Paramount+ is about to get more expensive. The streaming company has announced that, starting on August 20, memberships are increasing for plans with and without ads.

The ad-based Paramount+ Essential plan is going up from $6 to $8 per month, while the ad-free Paramount+ with Showtime is jumping from $12 to $13, according to CNET. Of note, existing subscribers to the Paramount+ Essential tier are not seeing a price increase; only new subscribers will pay more.

The annual plans for Essential and Paramount+ with Showtime are remaining unchanged, priced at $60 and $120/year, respectively. This is the first price increase for Paramount+ since it merged with Showtime in 2023.

The price hike is also notable because it brings Paramount+'s monthly ad plan in line with similar offerings from Disney+ and Peacock, which are also $8/month for their cheapest ad-based offerings. Netflix's ad-based plan, meanwhile, costs $7/month and is now the least expensive monthly ad-based plan out there from a major streamer.

These price changes come against the backdrop of Paramount Global's controlling shareholder, Shari Redstone, recently ending talks with Skydance Media about a potential merger. By the company's latest count, Paramount+ had more than 71 million global subscribers.

Some of the top shows on Paramount+ with Showtime include Mayor of Kingstown, Halo, Yellowjackets, and Star Trek: Strange New Worlds, with the next Dexter series, Original Sin, headlining some of the top upcoming shows. A second season of the Halo series debuted earlier this year on Paramount+ but it remains to be seen if the show gets renewed for a third season.