Fubo, a popular streaming service, has raised its English-language streaming plan prices by $5, effective immediately. The company's Essential and Pro plans now start at $85 a month, while its Elite plan has gone up to $95 monthly. This price hike comes just a month after Fubo debuted its Essential plan at $80 per month.

According to a Fubo spokesperson, the reason behind this rate increase is the "rising costs from our programming partners." The spokesperson emphasized that the company only makes adjustments when necessary and is committed to keeping Fubo competitive while ensuring subscribers have access to the channels, features, and live events they enjoy.

It's worth noting that Fubo's Essential plan, which was introduced in December, is priced the same as the Pro plan but offers largely the same features without regional sports networks. This plan was likely designed to appeal to customers who don't need access to these networks, but still want to enjoy Fubo's other offerings. However, with the extra up-to-$16 monthly fee for regional sports networks, the Essential plan may not be as attractive as it initially seemed.

The price hike puts Fubo in a more expensive position compared to its competitors. YouTube TV, for instance, raised its subscription fee by $10 in the same month, but it still remains cheaper than Fubo's Essential plan. Moreover, Fubo is planning to merge with Disney's Hulu + Live TV, which is currently priced lower than Fubo's plans.

This move may raise concerns among Fubo subscribers, who may be considering alternative streaming services that offer better value for their money. Fubo's commitment to keeping its service competitive will be put to the test in the coming months, as the company navigates the increasingly crowded streaming market.

As the streaming landscape continues to evolve, it remains to be seen how Fubo's price hike will impact its customer base and ultimately, its bottom line. One thing is certain, however – Fubo will need to continue to innovate and adapt to changing market conditions to remain a viable option for streaming enthusiasts.