Warner Bros. Discovery's HBO Max subscription price to rise

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By Sam Boughedda

Warner Bros. Discovery's (NASDAQ:WBD) HBO Max will raise its subscription prices, the company said Thursday, representing the first rise since it launched in May 2020.

In the U.S., the HBO Max ad-free monthly subscription price will be raised from $14.99 to $15.99 plus applicable taxes. The price rises are effective immediately.

Current HBO Max subscribers will see their fee increase to $15.99 at the start of their next billing cycle, on or after February 11, 2023.

The company said the price increase "will allow us to continue to invest in providing even more culture-defining programming and improving our customer experience for all users."

The price rise comes after a year of struggle for the company, which saw its share price tumble and the company introduce controversial cost-saving measures.

However, on Wednesday, Guggenheim analysts upgraded the stock to Buy from Neutral, saying they see an "attractive narrative" for WBD in the first half of 2023.