'Paramount+ To Increase Prices For Its Streaming Plans' - CNBC
Portfolio Pulse from Benzinga Newsdesk
Paramount Global is set to increase the prices of its streaming service, Paramount+, starting August 20 for new customers and September 20 for existing customers. The price hike is part of a broader strategy to turn around the company's financial performance after a failed merger with Skydance. The company aims to reduce debt and explore joint ventures.
June 24, 2024 | 4:32 pm
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Paramount Global is increasing the prices of its streaming service, Paramount+, as part of a strategy to improve financial performance. The price hike is expected to help reduce losses and explore new revenue opportunities.
The price increase is a direct attempt to improve the company's financials by boosting revenue from its streaming service. Given the current trend of media companies raising streaming prices, this move is likely to be positively received by investors looking for improved profitability.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Paramount Global's price hike for its streaming service, Paramount+, is part of a broader strategy to turn around its financial performance. The move is expected to help reduce streaming-related losses and explore new revenue streams.
The price increase is aimed at improving the company's financial health by increasing revenue from its streaming service. This aligns with the broader industry trend of raising streaming prices to achieve profitability, which is likely to be viewed positively by investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100