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

Philo’s budget streaming service is increasing the price of its $ 20 TV bundle. Starting June 8th, it will cost $ 25 per month to access the service if you are a new customer, the company said Deadline. Existing customers don’t have to shoulder a 25 percent price increase as long as they continue their existing subscription. However, the company said they expect people to be optimistic about paying more than $ 5 per month by figuring out how long they can keep the content on their DVR storage. In the $ 20 bundle, the current limit is 30 days. Paying more than $ 5 will allow you to save something for an entire year. This is the company’s first price hike since 2017 – even in 2019 it will cut its cheapest plan.

“It’s something we’ve always thought about,” said Andrew McCollum, CEO of Philo Deadline. “We try to do it in a way that is as fair to our existing customers as possible.” McCollum blamed the increase in program costs for the price increase. No surprise there. That’s something that has hit almost every TV streaming platform. As just one example, the monthly price of YouTube TV has increased $ 15 from April 2019 and has nearly doubled since Google launched the service in 2017. Likewise, Sony blamed costly content and network deals when it announced its decision shutter PlayStation Vue in 2019. Philo primarily avoided the same headwinds by not offering sports, but even then it didn’t avoid trends that affected the entire industry.

“We’re relentless in our focus on keeping our price low, so we’re doing everything we can to minimize our overhead while managing increased costs,” McCollum wrote in a blog post. “Even with these efforts, we can’t afford to keep rising costs indefinitely, and this change shows in reality.

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