Warner Bros Discovery has announced a price increase for its streaming platform, Discovery+, marking the first subscription rate hike of the year. Effective immediately for new subscribers, the ad-supported plan will now cost $5.99 per month, up from $4.99, while the ad-free plan rises to $9.99 from $8.99. Existing subscribers will see the changes reflected during their next billing cycle, starting February 7, The Reuters reported.

This move comes amid a broader industry trend, as major streaming platforms such as Warner Bros Discovery’s flagship service Max, Paramount+, and Peacock raised their subscription prices last year. With subscriber growth slowing in a maturing market, streaming companies are prioritizing profitability over aggressive expansion.

Discovery+ offers a wide range of programming, including content from popular networks like Food Network, Animal Planet, and Magnolia Network. It is also home to adventure and reality shows such as ‘Deadliest Catch’ and ‘Dual Survival’. Although Warner Bros Discovery does not disclose Discovery+ subscriber numbers, the service is believed to have a smaller user base compared to Max. Much of Discovery+’s content is also available on Max, which serves as Warner Bros Discovery’s flagship streaming platform.

The price hike reflects the company’s restructuring efforts. In December, Warner Bros Discovery announced plans to separate its declining cable TV businesses, including CNN, from its streaming and studio operations like Max. This strategic division is intended to streamline operations and could potentially pave the way for a sale or spinoff of its cable TV segment as more consumers continue to cut the cord.

Streaming platforms face increasing pressure to deliver consistent revenue, with price adjustments seen as a viable path toward profitability. “We remain committed to providing exceptional value through compelling content, while also ensuring sustainable growth for our business,” a Warner Bros Discovery spokesperson said in a statement.

As streaming services recalibrate their strategies to balance growth and profitability, consumers can expect more competitive offerings and bundled packages. However, price-sensitive viewers may need to weigh the benefits of these platforms against their rising costs.