In a move that follows the trend of other streaming services, YouTube has decided to increase the prices of its Premium plan for individual users in the U.S. The previous cost of $11.99 per month has been raised to $13.99 per month, representing a significant change for subscribers. This comes after a price bump last year for family plans in multiple countries, with the U.S. family plan tariff increasing from $17.99 per month to $22.99 per month. The individual plan price is now live on the YouTube Premium page.
YouTube has confirmed the price increase to FaqsFeed and emphasized that both existing and new subscribers will be affected. The company stated that the updated price reflects the value of YouTube Premium, which provides subscribers with an ad-free YouTube experience, background and offline play, and uninterrupted access to over 100 million songs via the YouTube Music app. Users will be required to pay the new prices starting from their next billing cycle. However, YouTube is showing some consideration for its early Premium subscribers, offering three additional months at their current price for those who signed up five years ago when the plan was first launched.
YouTube Premium offers a host of attractive features, such as ad-free viewing, video downloads, higher-quality 1080p streaming, and the ability to pick up where you left off when watching videos. Additionally, subscribers gain access to YouTube Music and enjoy experimental features like adjusting playback speed and a lock screen function to prevent accidental touches.
As YouTube raises its prices, it’s worth noting that other major streaming platforms have also implemented similar price hikes. Apple Music and Amazon Music, for example, have raised their subscription costs to match YouTube Music’s new price of $10.99 per month. In comparison, Spotify’s individual plan remains at $9.99 per month.
This surge in price adjustments seems to be a broader industry trend. In recent months, various video services like Apple TV+, Paramount+, and Peacock have announced price increases. Even Netflix, which raised its prices last year, has taken measures to combat password sharing by encouraging users to pay more or add extra members to their plans.
YouTube’s efforts to encourage more users to subscribe to its premium plans include measures like restricting ad-blockers and briefly testing 4K streaming behind a paywall. In November, YouTube reported having over 80 million subscribers across its Music and Premium offerings. As Google’s earnings are set to be announced next week, the company is undoubtedly aiming to increase its number of paid users and maintain its position in the highly competitive streaming landscape.
FaqsfeedTeam
