Warner Bros. Discovery's HBO Max has raised the prices of its Ad-Free and Ultimate Ad-Free plans to $17 and $21 per month, respectively.

Annual rates for HBO Max have also increased.

Current subscribers will be notified of the price changes 30 days in advance.

The price hike coincides with the release of new original series like House of the Dragon and The Penguin.

Warner Bros. Discovery is facing challenges with subscriber churn and is considering strategies to boost profitability, including cracking down on password sharing and introducing new ad formats.

The company's CFO suggested that streaming services were previously underpriced, hinting at potential future price increases.

Other streaming services like Peacock and Spotify have also raised prices recently to increase revenue.

Disney and Warner Bros. Discovery have announced a bundled offer for their streaming services.

Amazon has introduced new interactive ad formats on Prime Video.

These changes highlight the ongoing evolution and challenges in the streaming industry as companies strive to remain competitive and profitable.