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discovery+: Price Increase Announcement

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discovery+: Announcement of Price Increase

Effective October 3, discovery+ has announced a price increase for its ad-free monthly subscriptions in the U.S. and Canada. In the U.S., the price will rise from $6.99 to $8.99 plus applicable taxes, while the ad-lite subscription remains unchanged at $4.99 per month. Similarly, in Canada, the ad-free monthly subscription will increase from $6.99 CAD to $8.99 CAD, and the ad-lite subscription will change from $4.99 CAD to $5.99 CAD.

Impact on Existing Subscribers

Existing subscribers will experience the price increase on their next billing cycle, which will occur on or after November 2.

Continued Content Offerings

This marks the first time discovery+ has raised its monthly subscription price since its launch in January 2021. The price adjustment will enable the platform to continue delivering captivating content across various genres, including food, home, relationships, true crime, paranormal, and more.
About discovery+
discovery+ is a non-fiction, real-life subscription streaming service offered by Warner Bros. Discovery. It boasts an extensive content library, featuring exclusive original series in lifestyle, true crime, paranormal, adventure, natural history, science, tech, and the environment. The service is accessible through the discovery+ app on most mobile and connected TV devices. In conclusion, discovery+ subscribers in the U.S. and Canada will experience a price increase for ad-free monthly subscriptions. This adjustment allows discovery+ to continue offering a diverse range of captivating content across various genres, ensuring an immersive streaming experience for subscribers.

Hot Take: The Impact of discovery+'s Price Increase on New Streaming Businesses

The recent announcement of a price increase for discovery+'s ad-free monthly subscriptions in the U.S. and Canada could have significant implications for new businesses in the streaming space. As discovery+ raises its price for the first time since its launch in January 2021, it sets a precedent that could influence the pricing strategies of emerging streaming platforms.

Setting the Bar for Subscription Prices

The increase in discovery+'s subscription price could set a new industry standard, potentially giving new businesses the leeway to set higher prices for their own services. However, they must ensure that the content they offer justifies the cost to maintain subscriber satisfaction.

Content Quality and Diversity

discovery+'s price increase is intended to support the continued delivery of diverse and captivating content. This emphasizes the importance of investing in high-quality, varied content for new streaming businesses. They must prioritize content development to attract and retain subscribers.
Adapting to Market Changes
The price increase also highlights the need for new businesses to be flexible and adapt to market changes. As streaming services like discovery+ evolve their pricing models, new entrants must be ready to adjust their strategies to stay competitive. In conclusion, discovery+'s price increase provides valuable insights for new streaming businesses. It underscores the importance of setting competitive subscription prices, investing in diverse, high-quality content, and remaining adaptable in a dynamic market.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/discovery-announces-price-increase
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