The broadcast landscape continues to change, with Paramount+ getting a higher price as it absorbs Showtime content starting June 27, 2023.
The price increase was not unexpected: CFO Naveen Chopra said as much on the third-quarter earnings call of 2022 of the company. “We definitely see opportunities to increase the price of Paramount+,” Chopra said at the time in response to Deutsche Bank’s Brian Kraft. “And you’ll see us do that in the future. I think it’s fair to say that prices are moving higher across the industry, you see that with a number of competing services, and we think that means we have room to increase price.”
The details: The ad-supported plan is moving from $5 a month to $6 a month. The premium plan, which also includes the ability to watch some shows in 4K resolution and download content for offline viewing, runs from $10 to $12.
And if you want to watch that Showtime content, you’ll need to opt for the more expensive of the two plans.
The change really marks the end of Showtime as a standalone service. (It also kills the ad-free Paramount+ plan that Showtime didn’t include.) And the brand itself will become the more awkward “Paramount + with Showtime” later this year.
It’s not as radical a change as HBO Max and Discovery Combining to become the truncated service (at least in name) Max: Showtime has been a part of the Paramount family for a long, long time. But it’s still a pretty big change when it comes to branding. Showtime was CBS/Paramount’s answer to HBO (which has changed hands a couple of times in recent years), but it never had the same kind of brand awareness or depth of shows, despite occasional success. So this is more of a traditional consolidation.
And it shouldn’t change the availability of Paramount+, which can be found on all the major streaming platforms. The streaming service currently sits at around 60 million subscribers, with total global viewing hours of around 50% year-over-year.