YouTube has announced a price increase for its TV subscription service citing the increase in content costs as the reason behind the decision.
YouTube TV announced via a tweet that the monthly cost for new subscribers will be revised from $64.99 to $72.99 starting from March 16, whereas existing members will experience the change from April 18.
Due to the increase in content prices and the ongoing investment in service quality, the company took to Twitter on Thursday to declare the change. In their announcement, they stated that the monthly subscription fee will increase from $64.99 to $72.99 after three years, in order to offer customers the best TV service possible.
In addition, the business said that it is dropping the cost of its 4K Plus add-on from $19.99 per month to $9.99 per month.
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This marks the first price increase for YouTube TV in three years, with the service initially launching at $35 per month in 2017, and then increasing to $64.99 per month in July 2020.
The business stated that while they are committed to providing a quality TV streaming service, they are aware that certain consumers may find the increased fee to be unaffordable. The business noted that while they do hope that customers will continue to choose YouTube TV as their service of choice, they also want to allow them the freedom to discontinue at any point.