Warner Bros. Discovery has announced a price hike for its ad-free tier on the Max streaming service. Effective today, the monthly price is increasing from $15.99 to $16.99, while the annual plan goes from $149.99 to $169.99. The Ultimate tier, which includes 4K UHD streaming and supports up to four devices simultaneously, will now cost $20.99 per month or $209.99 per year. Existing subscribers will be informed of these changes 30 days before their plan renews, and annual subscribers won't see a hike until their renewal date. This price adjustment comes ahead of the release of "House of the Dragon" Season 2, which premieres on June 16. Additionally, new series like "The Penguin" and "Dune: Prophecy" are also set to launch on the platform.

Why is the price of Max streaming service increasing?

The price increase is likely due to the upcoming release of high-profile content such as "House of the Dragon" Season 2, as well as other original series like "The Penguin" and "Dune: Prophecy."

"House of the Dragon" is a prequel to the immensely popular "Game of Thrones" series, based on George R.R. Martin's "Fire & Blood." Set 300 years before the events of "Game of Thrones," it explores the history of House Targaryen. The first season premiered to great acclaim, setting the stage for the highly anticipated second season. This may have influenced Warner Bros. Discovery's decision to adjust the pricing structure to capitalize on the series' fanbase and the expected viewer surge.