YouTube TV has increased its membership price, with the monthly subscription now set to cost users $72.99, the first increase in almost three years.
The cable TV replacement service launched in 2017, charging just $35 for a monthly subscription.
With the new price, the cost of the service has more than doubled in five years. Having gone up to $40 in 2018 and shooting up to $65 by the end of 2020.
Announcement made earlier this week
YouTube announced the change using their official Twitter handle, citing that content costs have increased and they are continuing to invest in their quality of service.
New members will pay the new rate immediately.
Existing members will see the price change from the 18th of April. One positive is that the 4K service cost has been lowered from $19.99 to $9.99 a month.
Following its $2 billion year deal, Google started charging subscribers $300 a year for the NFL Sunday Ticket.
A report from TV Answer Man claimed last year that the service is a ‘money-losing endeavor’. Thus it will be interesting to see the aftermath of raising the YouTube TV price for non-subscribers.
Google on a cost-cutting mission
Over the past few months, Google has been on a cost-cutting mission as the tech industry undergoes a period of uncertainty and change.
The tech giant has shut down research departments and killed some of their niche products, and there have been reports of employees being required to share desks.
As the company cuts costs, it is also looking to grow revenue. Thus, the rise in subscription services comes as no surprise.
The company has increased the cost of a number of its product offerings.
YouTube Family Plan costs have increased by over 27,% while Google Workspace business account costs have risen by 20%.
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