(CTN News) – According to reports, YouTube is raising the price of its Premium family plan by a considerable amount, and it’s causing quite a stir among its subscribers.
As far as we’re concerned, this is the most significant price hike we’ve seen on the platform in years.
In addition to Netflix, Apple TV+, and Disney+, other streaming services have also recently raised their prices in order to compete with Netflix.
I would really like to interrupt it for you. A YouTube Premium family plan allows up to six accounts to share a single subscription, which is pretty convenient.
There will be a price increase for this plan starting on November 21. It will increase by £2, going from £17.99 to £19.99, which is a 2.5% increase.
The price in the US and Canada will increase by a whopping 30% from $17.99 (CA$17.99) to $22.99 (CA$22.99), which is a substantial jump from $17.99 (CA$17.99).
What are the benefits of YouTube Premium, and what does it offer? Well, it offers an ad-free experience, the ability to download videos, and the option to watch content while using other apps simultaneously.
The price increase however has left some customers feeling a bit miffed because of this price increase.
There have been a variety of people taking to social media to express their dissatisfaction with the service and even threatening to cancel their subscriptions in the future.
There was an email sent out by YouTube to customers informing them about the price increase. According to the email, they explained that as a result of the increase, the service will be maintained and improved, ensuring a continuous viewing experience for subscribers.
It has even been reported that YouTube has created a feedback page for users to give their thoughts and opinions on the potential backlash that may result from the price change.
It is not just YouTube that is doing this. In the UK, Disney+ recently raised its prices, with some customers now having to pay up to £36 extra per year for the service.
There have also been price hikes announced for Netflix UK customers, with some customers being asked to pay up to £17.99 a month. The streaming industry as a whole seems to be experiencing such an upward trend in prices as a whole at the moment.
Despite the fact that the prices have increased, these streaming services still offer a wide range of content despite the price increases.
As the streaming landscape becomes more competitive, more and more customers are starting to question whether the value matches the cost of the service, especially as the price of streaming services continues to rise.