Jan 7 (Reuters) - Warner Bros Discovery's ( WBD )

streaming platform Discovery+ is increasing its monthly

subscription price by $1, the company said on Tuesday, becoming

the first streaming service to raise rates in the new year.

Last year, several streaming services, including Warner Bros

Discovery's ( WBD ) flagship service Max, Paramount+, and

Peacock, increased subscription prices to focus on

profitability as the market matures and subscriber growth slows.

Discovery+'s ad-supported plan will now cost $5.99 per

month, up from $4.99, while the ad-free plan will increase to

$9.99 from $8.99.

New subscribers will see the price change immediately, with

existing subscribers affected during their next billing cycle or

from February 7.

Warner Bros Discovery ( WBD ) does not break out the number of

subscribers for Discovery+, but it's believed to have a smaller

user base than Max.

The service offers content from channels such as Food

Network, Animal Planet, and Magnolia Network, with most of its

programming also available on Max.

It streams adventure reality shows such as the "Deadliest

Catch" and "Dual Survival".

Warner Bros Discovery ( WBD ) is undergoing a restructuring and

announced in December its plans to separate its declining cable

TV businesses, such as CNN, from streaming and studio operations

like Max, setting the stage for a potential sale or spinoff of

its TV business as more cable subscribers cut the cord.