Paramount Global executives announced Thursday that people will see an increase in the cost of Paramount+ streaming service subscriptions later in 2023.
, et cetera," the CFO said in the call. "With respect to the bundles that we have with commercial partners, the timing of price increases in those relationships will be determined on a case-by-case basis."
In 2023, the company also plans to "evolve pricing in core international markets from a single tier to a multi-tier offering," according to Chopra.Paramount+, Showtime OTT bundle or subscribe to both services independently." That, he said, means "there will be some reduction in total subscribers when the services combined."
However, the company anticipates its direct-to-consumer revenue expectations will not see negative impact from the "subscriber dynamic," he added. Paramount Global said its total subscriber count for its direct-to-consumer segment came in at over 77 million for the final quarter of 2022, marking an increase of 10.8 million quarter-over-quarter. For Paramount+ specifically, it reported the streaming service’s count is now nearly 56 million, a figure that includes the 9.9 million additions it made in the quarter.
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