Philo TV is increasing the price of its streaming plan to $25 per month for new customers

Budget streaming service Philo is increasing the worth of its $20 TV bundle. Starting June 8th, it’ll cost $25 per month to access the service if you are a new customer, the corporate told Deadline. Current customers won’t need to shoulder the 25 percent price hike as long as they maintain their existing subscription. 

However, the corporate says it hopes to incentivize those people to pay the additional $5 per month by extending how long they will have content saved to their DVR storage. With the $20 bundle, the present limit is 30 days. Paying the additional $5 will allow you to keep something for a whole year. this is often the company’s first price hike since 2017 — though in 2019 it cut its most affordable plan.

“This are some things we’ve thought tons about,” Andrew McCollum, the CEO of Philo, told Deadline. “We’re trying to try to to it during a way that’s as fair to our existing customers as possible.” McCollum blamed rising programming costs for the worth increase. No surprise there. That’s something that has hit almost every TV streaming platform. As only one example, the monthly price of YouTube TV has increased by $15 since April 2019 and nearly doubled since Google launched the service in 2017. 

Similarly, Sony blamed expensive content and network deals when it announced its decision to shutter PlayStation Vue in 2019. Philo has primarily managed to avoid those self same headwinds by not offering sports, but even it isn’t resistant to trends affecting the whole industry. “We are relentless in our specialise in keeping our price low, so we do everything we will to scale back our overhead while managing these increasing costs,” McCollum wrote during a blog post. “Even with those efforts, we will not offset these rising costs indefinitely, and this alteration reflects that reality.”