Warner Bros Discovery hikes HBO Max ad-free subscription fee

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(Reuters) -Warner Bros Discovery (NASDAQ:WBD) Inc is raising the price of its HBO Max ad-free monthly subscription in the United States by $1 to $15.99 plus taxes, the TV network said on Thursday.

Shares of the company fell 3% to $119.

The new price goes into effect immediately and existing customers will see their monthly rate increase in the next billing cycle in February.

The price hike is the first since HBO Max was launched in May 2020.