BREAKING: Philo to Raise Price to $25 a Month ($5 Increase) For New Subscribers
For the first time, Philo is raising the price of their service to $25 a month, up from the current $20 pricing. Philo previously offered a $16 a month package, but dropped that package in mid-2019 for new subscribers.
The new price will go in effect on June 8th for new customers, while existing ones will be able to keep the $20 price as long as they remain subscribers. The new $25 a month plan does come with one additional benefit, you will now be able to keep your recordings for up to 1 year, up from the current 30 day limit.
If you want to get the $20 price, you can still lock-in pricing with a 7-Day Free Trial before that June 8th price hike.
On the company’s blog, Philo CEO Andrew McCollum said:
“As many of you know, our contracts with our content partners include fees we pay that go up every year, and a significant part of the cost of Philo is driven by our platform and billing partners. We are relentless in our focus on keeping our price low, so we do everything we can to reduce our overhead while managing these increasing costs. Even with those efforts, we can’t offset these rising costs indefinitely, and this change reflects that reality.”
In November, the sports-free streaming TV bundle is revealed they now had 800,000 subscribers. Launched in 2017, Philo’s saw incredible growth in the first half of 2020, the fastest of any MVPD. In August 2020, the company announced that they had nearly 750,000 subscribers.
Unlike its competitors — YouTube TV, fuboTV and Sling TV, which have all had to hike up their prices — Philo had been able to maintain its $20/month price tag until now. The service has channels from AMC, Discovery, and Viacom, as well as others.
“We’re not impervious to rising costs, our programming deals have increases built into them, so I can’t sit here and guarantee our price will never go up. I do think that we have put much more emphasis on keeping the prices low, not just through the choices we made around programming, but also, we operate the company very leanly,” said CEO Andrew McCollum in an interview at the virtual Stream TV Show earlier this year.
The Live TV Streaming Service has apps for Roku, Android TV, Fire TV, Apple TV, iOS, Android, and your computer.