The same week that Warner Bros. Discovery launched its merged streaming service HBO Max and Discovery+, Max, Paramount announced the launch date of Paramount+ with Showtime. The newly integrated service will roll out to users in the US on June 27.
As part of the launch date announcement, the company also said it plans to close Showtime’s standalone app by the end of this year. Meanwhile, the linear channel with Showtime will be renamed Paramount.
As the company announced in February, Paramount+ will see a significant price increase. The ad-supported plan, Paramount+ Essential, goes from $4.99 to $5.99 per month, and the ad-free tier, Paramount+ with Showtime, goes from $9.99 to $11.99. Despite both plans getting a price increase, the ad-free plan is the only one that combines Showtime content.
“By integrating the Showtime premium and acclaimed portfolio with the service’s already broad and popular slate, all at a competitive price point, we will solidify Paramount+ as a cornerstone in streaming,” said Tom Ryan, President & CEO of Paramount Streaming, in a statement on Monday.
Granted, the $11.99 price tag is $4 cheaper than Max, which charges $15.99 per month for its ad-free plan.
The company first announced its plans to merge Paramount+ with the Showtime channel in January. Last year, Paramount+ launched an in-app Showtime bundle that costs $11.99 a month with ads and $14.99 a month without ads.
Earlier this month, Paramount had its Q1 earnings call, where the company reported that with Showtime, Paramount+ is expected to generate approximately $700 million in future annual cost savings. However, combining the two services also resulted in programming costs of $1.7 billion in the first quarter.
Paramount+ currently has 60 million subscribers.