Philo, a live streaming TV service that has held its prices steady for more than three years, is finally giving in and raising monthly rates for new subscribers.
Beginning June 8, Philo will cost $25 per month, up from $20 per month. The service has promised though that any existing subscribers who sign up before June 8 will be able to maintain their current $20/month price.
In a blog post, Philo CEO Andrew McCollum explained that the price increase, his company’s first in the three and a half years since it launched, is due to fee increases from content partners along with platform and billing partner costs.
“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,” he wrote. “Even with those efforts, we can't offset these rising costs indefinitely, and this change reflects that reality.”
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As part of the new $25 package, Philo is extending the time it keeps recordings in unlimited DVR from 30 days to a year. Existing subscribers can upgrade to this plan if they want access to the extended DVR.
Philo currently offers 63 channels—from partners including Discovery, ViacomCBS and AMC Networks—for $20/month with a seven-day free trial. Philo had 800,000 subscribers at last count in November, growing 300% year over year.
T-Mobile last year launched TVision Vibe, a similar streaming package priced at $10/month. As of April, TVision Vibe has shut down and Philo has become one of T-Mobile’s TVision partners.
"We’re so thrilled to partner with T-Mobile. Both companies are united by a similar mission —we’re committed to always putting our customers first. This partnership with T-Mobile takes Philo’s amazing value to another level. With T-Mobile’s leading 5G network and expansive customer base, this partnership will provide a massive boost to our shared vision of reinventing television by creating an experience people love as much as the shows they watch,” said McCollum in a statement.