Warner Bros. Discovery is increasing the price of ad-free HBO Max to $15.99 from $14.99, the first hike since the streaming service was launched in 2020.
The price of streaming service HBO Max's ad-free tier is increasing to $15.99 from $14.99, the first price hike since it was launched in 2020.
Warner Bros. Discovery, the merged company that now runs HBO Max, plans to merge Warner's streaming service with Discovery+ this spring.In this article'House of the Dragon' series logo displayed on a phone screen and HBO Max website are seen in this illustration photo taken on August 16, 2022.is raising the monthly price of HBO Max by $1 as the company looks to further invest in content and the user experience.
The company said Thursday the HBO Max ad-free tier's price would increase to $15.99 a month from $14.99, the first price increase for HBO Max since it launched in May 2020. The rate hike will be effective for existing subscribers in their next billing cycle, or on Feb. 11.spring 2023 launch of its combined HBO Max and Discovery+ streaming serviceWarner Bros.
"There's no doubt that these products are priced way too low," said Warner Bros. Discovery CFO Gunnar Wiedenfels during a conference earlier this month. "And I think this was partly the capital market fueled phase of land grabbing. You couldn't lose enough money and couldn't grow subscribers fast enough. I think that's behind us."
The company has been cutting back on costs, such as spending on HBO Max's original series, as it looks to make streaming profitable. It is also tending to a heavy debt load stemming from Discovery's acquisition of Warner, which closed last year. Warner Bros. Discovery's goal is to notch $1 billion in earnings in streaming by 2025.
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