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AT&T informed customers over the weekend it is increasing the cost of its over-the-top streaming service DirecTV Now by $5 per month. The change comes shortly after the telecom bumped customers' administrative fees, suggesting AT&T is searching for new sources of revenue following its costly acquisition of Time Warner.
AT&T began notifying existing customers over the weekend via email, Cord Cutters News first reported. An AT&T spokesperson confirmed to CNBC the $5 hike would apply across-the-board to all packages, except "Todo y Más." That means the "Live a Little" 60+ channel package and the "Go Big" 100+ channel promotional package will both increase by $5 to $40, while the "Just Right" 80+ channel package and the "Go Big" 100+ channel package will increase to $55 and $65, respectively.
The changes will go into effect for news customers after July 26, AT&T said in a statement. For pre-existing customers, the effective date varies, but could be as soon as the end of the month.
This price hike comes just days after AT&T launched its WatchTV live streaming service for $15 per month, and shortly after AT&T bumped the “administrative fee” on most customers' bills, generating about $800 million in additional revenue.
AT&T attributed its changes to market forces, but the company may be under pressure to find new sources of revenue after its $85.4 billion purchase of Time Warner. The timing of AT&T's price hikes and fee bumps coincides with the closure of the deal.