Yet another streaming platform is asking people to dig deeper into their wallets and pay more to keep using the service. Warner Bros. Discovery (WBD) has jacked up the prices of all HBO Max plans, 16 months after the last increase to the ad-free offerings.
The entry-level, ad-supported plan is now $11 per month (an extra $1) or $110 per year ($10 more). HBO Max Standard will run you an extra $1.50 per month at $18.49 or $15 per year at $185 for the annual plan. As for the HBO Max Premium option, subscribers will now have to pay $23 per month (up by $2) or $230 for an annual plan (an increase of $20).
The new prices kick in immediately for newcomers. Existing monthly subscribers will start paying more as of November 20 (whenever their next billing cycle starts on or after that date). Yearly subscribers will be notified about the price changes 30 days before their plan renews.
WBD CEO David Zaslav suggested in September that price increases were on the way, along with a stricter crackdown on password sharing. "The fact that this is quality — and that’s true across our company, motion picture, TV production and streaming quality — we all think that gives us a chance to raise prices," Zaslav said. "We think we’re way underpriced."
The company announced the price increases on the same day that Disney is making several Disney+ plans more expensive. As it happens, some of the Disney+ bundles that are going up in price include HBO Max.
News of the price hikes comes just as WBD sticks a For Sale sign out on its lawn. It was reported this month that the company turned down an acquisition offer from Paramount Skydance for being too low. WBD has now confirmed that "multiple parties" have expressed interest in buying some or all of the company, and that it's now conducting "a review of strategic alternatives to maximize shareholder value."
In June, WBD announced plans to split into two companies. As things stand, Warner Bros. will retain the namesake film, TV and game studios, as well as New Line Cinema, DC Studios, HBO and HBO Max. Discovery Global will have all of the other live cable channels, such as CNN, HGTV, Cartoon Network, Discovery and TLC (it will also be saddled with the lion's share of WBD's debt). That split is slated to take place by mid-2026, but WBD said on Tuesday it would consider other options.
"The Warner Bros. Discovery Board will evaluate a broad range of strategic options, which will include continuing to advance the company's planned separation to completion by mid-2026, a transaction for the entire company or separate transactions for its Warner Bros. and/or Discovery Global businesses," WBD said in a press release. "As part of the review, the company will also consider an alternative separation structure that would enable a merger of Warner Bros. and spin-off of Discovery Global to our shareholders."
WBD hasn't set a deadline or timetable for completing this review. But given the whole HBO Max naming debacle, it might take the board quite a while to make its mind up.
This article originally appeared on Engadget at https://www.engadget.com/entertainment/streaming/hbo-max-is-getting-even-more-expensive-starting-today-143939446.html?src=rss
