Paramount+ and Showtime will merge June 27, and prices will rise too

The two services will fully integrate June 27, Paramount said Monday, under the new name “Paramount+ with Showtime.” Essentially, Showtime subscribers on cable will get to watch Paramount+ content, such as “1923” and “Star Trek: Picard,” while streaming subscribers to the premium tier of Paramount+ will get Showtime titles, such as “Yellowjackets” and “Billions.” 

The price for that ad-free streaming plan will rise $2, to $11.99 a month from $9.99. Paramount+ subscribers who don’t want Showtime will pay $5.99 a month, up from the current $4.99 for the ad-supported tier.

The Showtime app will be phased out by the end of the year and the cable channel will be rebranded.

 “Together, Paramount+ with Showtime will provide our consumers a much more rewarding experience with our vast set of unique originals and deep library of iconic shows and hit films,” Chris McCarthy, president & CEO of Showtime/MTV Entertainment Studios & Paramount Media Networks, said in a statement.

It’s the latest consolidation among streaming services, as companies shift their strategies from growth to profitability. On Tuesday, Warner Bros. Discovery’s WBD, -0.33% HBO Max will rebrand as Max, and add a slew of unscripted programming from Discovery+, and earlier this month, Walt Disney Co. DIS, +0.51% announced plans to add Hulu programming to Disney+ later this year, while also raising prices.