YouTube Premium users won't like this news
For the first time in a while, there's been a price increase on YouTube, one of the world's most popular social media platforms.
YouTube Premium's pricing in the US has been increased by Google, as reported by 9to5google. For both existing and new subscribers, the new monthly fee is $13.99, an increase from the previous $11.99. If the subscription is made through the YouTube app on iOS, the monthly cost becomes $18.99.
A YouTube representative has explained the price hike, stating it is necessary to sustain the quality of service and features available to YouTube Premium and YouTube Music Premium subscribers. They also conveyed that the new price is a better representation of the value offered by YouTube Premium, such as ad-free streaming, offline and background play, and the availability of over 100 million songs on the YouTube Music app.
By the end of 2022, the cost of YouTube Premium family plans saw a rise to $22.99 per month. An annual subscription, introduced in the same year, is now priced at $139.99, allowing subscribers to save $27.89 compared to monthly payments.
The monthly fee for YouTube Music Premium will also increase from $9.99 to $10.99, mirroring similar price hikes by Apple and Amazon.
YouTube Premium users won't like this news
Existing subscribers will notice the new prices reflected in their upcoming billing cycle and will receive emails explaining the changes. Subscribers who transitioned from Google Play Music and/or YouTube Red will be able to enjoy their current rates for an additional three months.
YouTube Premium provides an ad-free viewing experience on YouTube, enabling users to enjoy videos without disruptions. It also includes the feature of downloading videos and playlists for offline viewing and the ability to play videos in the background. In addition, YouTube Premium gives access to YouTube Music, an ad-free music streaming service, with offline playback and background listening capabilities. YouTube Kids, a version of YouTube without ads and available for offline play, designed specifically for children, is also included in the package.
This price increase follows a trend seen in major streaming services such as Apple Music, Amazon Music, and Netflix. It is anticipated to positively affect Google's financials, considering YouTube Music and Premium had amassed over 80 million paid subscribers by September 2022.
YouTube is also reportedly working on a new gaming feature known as Playables. This comes after the failure of Stadia, Google's previous gaming venture. Playables is expected to provide simple puzzle or arcade games on smartphones and desktops, with ads incorporated for monetization. This new endeavor aims to improve gaming experiences on the platform.
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