YouTube is the latest streaming company to raise subscription prices for its shows.
On Thursday, the company raised prices for its YouTube Premium service (which allows users to watch videos ad-free and download for offline viewing) and YouTube Premium Music, the company’s music streaming offering.
“We’re updating pricing for YouTube Premium and YouTube Music Premium subscribers in the US to continue offering great service and features,” said YouTube spokesperson Jessica Gibby. Hollywood Reporter. “We believe this new price reflects the value of YouTube Premium, which allows subscribers to enjoy ad-free YouTube with offline and background play and uninterrupted access to over 100 million songs using the YouTube Music app.”
YouTube Premium will increase in price by $2 per month to $13.99 for most users, while YouTube Music will increase in price by $1 per month to $10.99. The exact price may depend on the plan and users’ billing option. This is YouTube Premium’s first price increase since its introduction in 2018, and YouTube says users who signed up five years ago will get an additional three months at the current price.
The changes follow a wave of price increases across the streaming video and music landscape.
In the music business, both Apple and Amazon have raised the price of their music services to $10.99 per month (Spotify is still at $9.99, though it’s expected to raise prices in the near future). And in the video, most companies have adjusted their prices in the past year or so, with NBCUniversal’s Peacock raising its price earlier this week. Paramount has also adjusted the price of its Paramount + with Showtime product, and earlier this year Warner Bros. raised the price. Discovery priced HBO Max before rebranding to Max.
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