On Thursday, YouTube, the popular video streaming platform owned by Google, announced an increase in the prices of its monthly and annual premium plans in the United States. This marks the first price hike since the subscription service was launched in 2018.
According to the information provided on the company’s website, the YouTube Premium plan will now cost $13.99 per month, reflecting a $2 increase from its previous price. Furthermore, the annual plan’s cost has been raised by $20, bringing it to $139.99.
The company has acknowledged its long-term subscribers by offering a special benefit. Members who have subscribed to YouTube Premium for five years or more, including those who originally signed up through Google Play, will receive three additional months of subscription at the old price.
In addition to the price adjustments, YouTube had previously introduced new features exclusively for its premium users in April. Among these features is the ability to host Google Meet sessions, allowing subscribers to watch videos on the platform together with other users in real-time.
However, the price hike is not exclusive to YouTube Premium alone. YouTube Music, a subscription-based music streaming service provided by the platform, will also be impacted. Its monthly cost will increase by $1, bringing it to $10.99 in the U.S. This move follows similar price increases implemented by competitors such as Amazon Music, Apple Music, and Tidal.
The decision to raise subscription fees comes as the streaming industry continues to evolve, with platforms seeking ways to enhance user experience and offer more engaging features. While this price adjustment may be met with mixed reactions from subscribers, YouTube aims to maintain its position as one of the leading video and music streaming services in the market.