HBO Max today announced that it is raising the price of its ads-free plan from $14.99 a month to $15.99 a month.

The streamer said the price increase would go into effect immediately for new subscribers. Existing subscribers will see the monthly increase in their next billing cycle on or after Saturday, February 11, 2023.

HBO Max said in an e-mail to subscribers that the price hike “will allow us to continue to invest in providing ever more culture-defining programming and improving our customer experience for all users.”

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This is the first time that HBO Max has raised its rates since launching in May 2020. It’s also the first price hike since Warner Media, which operates HBO, merged with Discovery last April. Since the merger became official, new CEO David Zaslav has instituted a number of cost-savings measures including the elimination of certain titles from the HBO Max catalog.

The streaming service’s ads-included plan will continue to be $9.99 a month.

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