Rate Hike. Again.
September 13, 2023 — No one is earning money and everyone wants it. From the writer’s strike to the YouTube streaming debacle, everyone is crying over earnings. While Paramount+ isn’t really responsible for much in unique content, they’ve doubled subscribers since 2021 from a little over 30 million to 61 million in early 2023. Yet they raised rates a buck in June. With another consolidation — err… “Integration” of Showtime, Paramount+ thinks their MTV networks and other useless TV platforms justify coupling with Showtime as a reason to raise rates again. When? Well, According to Paramount CEO, Bob Bakish in a recent earnings call, it will be inside the next two years. But that most likely means inside the next six months. He’s obviously quite up on the idea. “Our plan is to raise price again, this isn’t our only price increase. Whether we do that in ’25, or we do that in ’24, we’ll see. Again, early days, as we evaluate the cost impact of the price increase, but we believe there’s a lot of room to run there.”