YouTube Raises Premium Subscription Prices in the U.S. After Three Years

YouTube has announced an increase in its 'YouTube Premium' subscription fees in the United States, marking the first price hike in nearly three years since the last adjustment in 2023.

On October 10th, YouTube revealed that the individual subscription rate will rise by $2, from $13.99 to $15.99. The family plan will see a $4 increase, moving from $22.99 to $26.99. Additionally, the 'YouTube Music Premium' and the budget-friendly 'YouTube Lite' services will each see a $1 increase, adjusting to $11.99 and $8.99, respectively. These figures are based on the exchange rate of 1,485 won as of October 12th.

The new pricing structure will take effect from the next billing cycle. Existing subscribers will receive individual email notifications at least 30 days before their billing date. This marks the second price adjustment since the service was rebranded as 'YouTube Premium' in 2018.

On the day the price hike was announced, Alphabet's stock price fell by 0.32%, closing at $317.47. YouTube's Premium and Music services have continued to grow, surpassing 125 million subscribers worldwide as of last year.

A YouTube spokesperson explained to local media that the decision was made to maintain popular features such as ad-free viewing and background play. This move aligns with similar strategies by major streaming platforms like Netflix and Disney+, which have also increased subscription fees to cover content creation and operational costs.

As the price increase takes effect in the U.S. market, there is growing interest in whether additional price hikes will occur in other regions. Previously, in December 2023, YouTube raised the monthly subscription fee for 'YouTube Premium' in South Korea from 10,450 won to 14,900 won.

Reported by Min-Kyung Lee, TenAsia 2min_ror@tenasia.co.kr