YouTube, a popular global video streaming platform, has silently raised the fee of its premium subscription by $2 per month from $11.99 to $13.99.
The move comes as several other audio and video streaming services have implemented price hikes on their subscription fees in recent weeks. YouTube's subscription price increase hits iOS users harder as they now face a $3 hike from $15.99 to $18.99 per month.
YouTube Silently Raises Subscription Prices
The platform's family plan, which officials raised last fall, has remained the same at $22.99 per month. The higher price allows YouTube users to download videos, watch without seeing ads, and play videos while still using other applications and provides several other features.
The ad-free part of the subscription is particularly important as the video streaming platform has continued its crackdown on ad-blockers in the last few months. YouTube currently relies on ad revenue to keep the service free of charge. However, many users have complained about the number of ads they see and argued that the crackdown is just a way to force people to pay for Premium, as per ZDNet.
The platform's newly updated prices, which appeared on the service's signup page earlier this week, will apply to new and current subscribers. It comes after Netflix eliminated its lowest-cost ad-free subscription plan earlier this week, and Peacock announced the first time that it has ever raised the prices of its subscriptions.
The recent decision was not unexpected because the main tier of YouTube Premium has stayed the same price since 2018. However, as prices continue to rise for subscriptions and services on various services, some users will likely decide that paying for Premium plans is no longer worth it.
YouTube has also increased its Music Premium subscription price by $1, from $9.99 to $10.99. This particular price hike was expected because of similar changes made by both Amazon and Apple to their music services.
Price Hikes Among Streaming Services
In a statement, a representative for the streaming platform said that they were updating the price for the Premium and Music Premium plans for subscribers in the United States to continue to provide great service and features, according to Variety.
Several analysts and industry observers have argued that the "family" streaming plans at YouTube and many other streaming platforms have a lower average revenue per user (ARPU) than individual subscriptions. This has caused concern for many, particularly for music industry leaders.
They have become increasingly vocal about what they argue is the continuing underpricing of music in the streaming world. In January, Amazon Music raised the price of its standard individual Amazon Music Unlimited monthly subscription by $1 in the U.S.
On the other hand, Apple raised its subscription price for Apple TV+, Apple One, and Apple Music by $1 worldwide. Despite the price hikes, Spotify has kept the price of its individual Premium subscription plan even though it launched more than a decade ago, said Music Business Worldwide.
