The price increases and combination with Showtime will take place in the third quarter.

Paramount+ added 9.9 million subscribers during the fourth quarter. In total, Paramount+ reached nearly 56 million customers during the fourth quarter.

While the tough advertising market weighed on Paramount’s earnings, as the company previously warned, the company’s direct-to-consumer streaming business saw an increase of 4%. Advertising revenue fell 5%, a majority of which was attributed to the international market.

Overall, Paramount fourth quarter revenue declined 7% compared with last year, to roughly $5.9 billion, due to the drop in advertising.

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