JUST ANNOUNCED: Paramount + to drop subscription prices soon
Are you a current or potential Paramount + subscriber? We have good news!
ViacomCBS confirmed plans for an upcoming price change for the new streaming service during its first quarter 2021 earnings call on Thursday, May 6.
Company management also confirmed ambitious new plans for movies on the streaming platform.
The changes are going to save you money and potentially improve your streaming options in the process.
Here are the details.
Paramount + will change the price of the basic subscription in June
The price of the Paramount + ad-supported subscription will drop from $ 5.99 to $ 4.99 in early June 2021.
Although it was brought up at ViacomCBS Investor Day earlier this year, CEO Bob Bakish has confirmed the timing and pricing details. at the call for results on Thursday.
“We’re really excited about this,” Bakish said of the upcoming price cut. “It brings live sports, breaking news and a fair amount of entertainment – including our plans for an expanded originals list – to the market for a lower price.
“It’s great from a consumer perspective, but for us it also has cost advantages that improve margins over the existing $ 5.99 product that we’re going to be phasing out.
Bakish refers to the removal of pricing strategies (both from a consumer perspective and advertising costs) from the CBS All Access product, which was priced at $ 5.99 a month and was renamed Paramount’s “first release”. + when it was launched in March 2021.
In other words, you get a lower price and an improved product, and the company is relying on the new strategy to get more viewers.
There are no announced changes to the ad-free subscription level of $ 9.99.
How the new pricing compares to the competition
The market for video streaming services is full of big name competitors, and several of them seem determined to try and get more subscribers with a lower cost ad-supported option.
It’s been part of Hulu’s strategy for some time, and its NBC network rival used this strategy when Peacock launched last year.
It has been reported that even HBO Max, which is one of the more expensive video streaming services out there, is considering trying an ad-supported subscription model.
Here’s a look at how Paramount + ‘s new pricing strategy compares to that of some direct competitors:
Paramount + also announced some exciting plans on the films
The price change wasn’t the only exciting news to come out of the earnings call on Thursday.
Paramount + also announced that it will soon be expanding its movie library on the service and revealed an aggressive plan to increase the amount of original content on the service in 2022.
Here’s a quick recap:
- Bakish said the June price change will come with some content changes, including adding more than 1,000 films to the Paramount + platform.
- They include well-known titles such as The Avengers, Rocketman, and Mission: Impossible – Ghost Protocol.
- The number of films added to the service is expected to reach 2,500 by July.
- Bakish has also announced aggressive plans for 2022 when Paramount + releases one new movie per week. This is part of an effort to grow the original content library on the platform. The campaign will be called “Mountain of Movies” in tribute to the Paramount brand.
- Productions starring Mark Wahlberg (Infinite) and John Krasinski (A Quiet Place Part II) will debut on the streaming platform in the coming months.
What’s available on Paramount + right now
All the announcements about what’s to come on the platform might get you excited, but if you are planning to subscribe right now, you might also be wondering what is already available on Paramount +.
The Clark team has a full review of the service here, but I’ll give you some highlights from the content menu:
Paramount + Originals
- The Real World of MTV: Homecoming
- Star Trek: Discovery
- Star Trek: Picard
- The good fight: what is the 618 memo
- Stephen King’s stand
- Blue blood
- Big Brother
- 60 minutes
In addition to on-demand content, you’ll also get live streaming from your local CBS affiliate as well as the 24-hour CBS News and CBS Sports HQ networks.
- The game
- Hollywood real husbands
- Being Mary Jane
- Single women
- Everyone hates Chris
- Reno 911!
- Chapel Show
- The daily show
- Key and Peel
- Teen mom series
- The challenge
- The Real World Series
- Beavis and Butthead
- Jersey Shore
- Sponge Bob SquarePants
- Blue indices
- Paw Patrol
- Peppa Pig
- America’s Hidden Stories
- Aerial america
- Secrets unlocked
- Mystery files
- Catch the killers
- The Godfather trilogy
- Indiana Jones Series
- Mission Impossible Series
- Tommy boy
On the surface, $ 1 per month isn’t a huge price change. But that puts Paramount + in line with the prices of major competitors Peacock and discovery +.
And perhaps as exciting as saving an additional $ 12 per year on that subscription, is the news that ViacomCBS plans to increase the selection of content on this platform.
The service is already an improvement over the old CBS All Access, and the idea of releasing one movie per week brings it closer to competition from more expensive streaming services like Netflix and HBO Max.
At $ 5 per month in the future, Paramount + is probably worth a try for most string cutters. It offers a variety of content for just about everyone in the household.
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