YouTube, one of the most popular video streaming platforms, hiked its prices for monthly and annual premium subscriptions in the United States for the first time since the subscription service was launched in 2018. The move has sparked both surprise and disappointment among the subscribers. Hike aims to reflect the value of YouTube Premium and support the development of new features. Continue reading to learn more. Happy reading!
Key Details Of The Price Hike
The cost of the individual plans has risen by $2, from $11.99 per month to $13.99, and the family plan has seen an increase of $5, from $17.99 to $22.99 per month. The family plan allows up to six accounts to access ad-free viewing, background playback, and other benefits. Members who first signed up for YouTube five years ago, including those who did so through Google Play, will receive three months of their subscription at the previous rate. The cost of YouTube music is also increased by 1$ in the States. Followed by YouTube, various other music streaming apps like Amazon Music, Apple Music, and Tidal also increased their prices.
Why The Hike?
In a recent interview, the YouTube spokesperson, Marni Greenberg, acknowledged the impact of the price increase on members. But she also emphasized the need to invest in new and upcoming features. Greenberg even stated that the price adjustment would also extend to various other countries, including the Republic of China, Great Britain, Japan, Brazil, Turkey, Indonesia, and Argentina. YouTube Premium was initially launched as YouTube Red in 2015; it grew its popularity, surpassing 50 million total subscribers, and was further updated as YouTube Music. The decision to raise charges comes as it faces rising costs and competition in the industry.
With their subsequent payment cycle, current members will begin to see the revised cost. Also, an upcoming email will explain the changes to the users. Ads are removed, videos can be played back with audio exclusively, and downloads are available offline with the subscription. While the price increase may be met with mixed reactions from subscribers, YouTube aims to maintain itself as the leading platform for video streaming and content.
What do you think is the reason behind the price hike by the app? Are you willing to pay the premium for the extra services? Do let us know your take on the hike in the comment section. Stay tuned for further updates!
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