Video sharing platform YouTube has raised the prices for the family plan of its premium subscription service in multiple countries including the United States, United Kingdom, Canada, Argentina, Japan, Indonesia, Brazil and Turkey.
Subscribers to YouTube Premium (formerly known as YouTube Red) get access to many premium features such as the ability to watch videos on the platform without intrusive ads, download them for offline viewing, consume them in the background without having to keep the app open, and try new features like transcriptions before they’re released for the public. It also comes with YouTube’s Spotify-like music streaming service YouTube Music. The family plan of the service can be used by 5 family members over the age of 13.
As reported by TechCrunch, YouTube has recently sent emails to YouTube Premium subscribers informing them about the price changes which will take effect starting November 21.
Some social media users posted the screenshots of the emails they received, which show that the monthly price of the family plan will be increased from CA$17.99 to CA$22.99 in Canada, $17.99 to $22.99 in the United States, and £17.99 to £19.99 in the United Kingdom.
UK:— PlymouthJoseph (@plymouthJoseph) October 20, 2022
First, it was 10 unskippable ads.
Then it was Premium only 4k upwards.
Now, premium is more expensive.
Man… YouTube are really getting greedy as of late. pic.twitter.com/sRtayaIezi
The hike is even sharper in Argentina, where the price of the individual plan will be raised by 220% from ARS 119 ($0.78) to ARS 389 ($2.53), and that of the family plan will be raised 290% from ARS 699 ($4.55) to ARS 179 ($1.17).
In addition, the monthly cost of the family plan has been raised from ¥2,280 ($15.16) to ¥1,780 ($11.83) in Japan, from IDR 89,000 ($5.70) to IDR 99,000 ($6.34) in Indonesia, and from $BR 31.90 ($6.06) to $BR 34.90 ($6.44) in Brazil.
Lastly, Turkish subscribers will now be asked to pay TRY 59.99 ($3.22) instead of TRY 29.99 ($1.61) for YouTube Premium’s family plan, and TRY 19.49 ($1.05) instead of ($0.54) for the student plan.
As reported by TechCrunch, a spokesperson for the company said: “We don’t make these decisions lightly, and we realize how hard this may be for our members. This new price reflects the complete value of YouTube Premium and will allow us to develop even more Premium features and continue to support the creators and artists you watch and listen to on YouTube”.
YouTube is not the only company that’s raising the prices of its services. Apple, for instance, has recently announced a hike for App Store prices in European and Asian markets as a result of the rising inflation and the depreciation of currencies against the US dollar.
In August, Disney also raised its prices after surpassing Netflix in subscriber count. Netflix, in the meantime, increased the price of its plans by $1 to $2 on average . The company is now getting ready to launch its $7 ad-supported tier next month.
Meanwhile, sources familiar with the matter said in August that YouTube is planning to launch its own streaming video marketplace to enable its users to subscribe to premium services.