Paramount+ is set to increase prices again as the streamer invests heavily into a new content slate for the upcoming year, according to The Verge.

In its earnings report Monday, Paramount announced that the price for U.S. viewers on its ad-free Premium plan will rise to $13.99 from $12.99, while the price for its ad-supported Essential tier will rise to $8.99 from $7.99, The Verge reports. The change will take place on January 15, 2026.

Paramount explained that the price hikes will “fuel continued reinvestment in the user experience and deliver an even stronger slate of programming” for the upcoming year and beyond, per The Verge. The company has followed in the footsteps of many other streamers recently as they have raised prices on an almost annual cadence in an effort to gain the edge on content and keep viewer attention. Paramount+ previously raised prices in 2023, followed by an additional hike last June, in addition to raising prices in Canada and Australia as well.

The development comes hot off the heels of Paramount’s massive merger with Skydance, creating an entertainment behemoth that has moved swiftly to cut costs by introducing mass layoffs, in addition to hiring on The Free Press founder Bari Weiss as the editor-in-chief of CBS news, both moves that have worried some company staff. According to The Verge, the company also announced that it will require employees to return to the office full-time starting in January.

So far Skydance’s ownership has brought more viewers into the fold, as Paramount+ added 1.4 million subscribers since the merger, bringing its total number of subscribers to 79.1 million, per The Verge. The streamer will also now host UFC fights after striking a $7.7 billion deal with the promotion company in August.

In addition to the price hikes, The Verge reports that the streamer will also be nixing its free trial option while “reviewing discount practices,” following on the company’s renewed focus on belt-tightening measures. The company added that it will also be conducting updates to the technology supporting Paramount+ and its ad-supported cousin Pluto TV in order to enhance the viewer experience.