YouTube Premium to Introduce 25% Price Hike to Family Plan in November
Much of the goodwill that YouTube generated by removing the paywall it attempted to put in front of 4K videos is now likely to evaporate. The company has announced that it is raising the price of its YouTube Premium family plan to $22.99 per month, a 25% increase, according to 9to5Google.
However, the price of the YouTube Premium family plan will be jumping even higher if customers purchased their subscription via the Apple App store. That price is increasing to $29.99 per month. The change will go into effect on the customers’ next billing cycle starting on or after Nov. 21, 2022.
Keep in mind that YouTube Premium is not a live TV streaming service like YouTube TV; instead, it allows users to watch videos ad-free, play them when using other apps, and download videos to watch offline and also includes access to YouTube Music Premium. The family plan allows for up to six individuals to use the same Premium account.
At the moment, it seems that YouTube is not raising the price of an individual Premium account, which will remain at $11.99 per month. YouTube did not give a specific reason for the price increase, simply that it was done “to continue delivering great service and features.”
YouTube claims it has passed 50 million subscribers for its Premium and Music services, according to Deadline. The price increase may simply be a sign of the streamer’s confidence in its subscription products, indicating that YouTube believes it has a sticky enough product that people will pay a higher price for it.
If the rate increase on the family plan does not lead to an exodus of subscribers, it could mean further increases in other subscriptions that YouTube offers. Individuals who have not seen their subscription costs rise will nevertheless be on the lookout for an increase in the future, and a gradual implementation of such increases by YouTube will make it easier for customers to accept them.
Between the attempted pay-walling of 4K videos and the price hike of YouTube Premium right around Thanksgiving, it appears that YouTube is rehearsing its best Scrooge impression for the holidays. If that’s the case, further price hikes could be just around the corner.