HBO Max is the latest streaming service to get a price increase.
Warner Bros. Discovery says that it will raise the monthly price of HBO Max to $15.99 per month effective immediately, with it taking effect for existing subscribers beginning in February. The company notes that it is the first time it has raised the price since the launch of the service in May 2020.
The ad-supported tier of the service will remain at $9.99 per month for the time being.
“This price increase of one dollar will allow us to continue to invest in providing even more culture-defining programming and improving our customer experience for all users,” the company said in a statement.
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The price hike comes as the service is set to premiere one of its most anticipated new shows this weekend, video game adaptation The Last of Us.
But it also comes after WBD removed some of HBO Max’s library programming, including animated and kids titles, as well as more high-profile series like Westworld and The Nevers.
The pricing change was teed up by WBD CFO Gunnar Weidenfels at a Citibank conference earlier this month, when he said of many streaming services “there’s no doubt that these products are priced way too low.”
“I think there’s a there’s a there’s a building consensus that this phase of of dumping pricing is is over,” he added, noting that when the company combines HBO Max and Discovery+ later this year, it could give additional opportunities to raise prices.
