Google-owned YouTube TV (GOOG, GOOGL) is raising the prices of its monthly subscription plans, with plans rising to $82.99 per month up from the prior $72.99.
“We don’t make these decisions lightly, and we realize this has an impact on our members,” YouTube wrote in an email to customers.
The company said the increase comes amid the “rising cost of content and the investments we make in the quality of our service.”
YouTube TV, the internet pay-TV service that allows viewers to watch live channels and access local broadcast networks like ABC, CBS, FOX, and NBC, launched in 2017. Since then, its breadth of content, as well as its price point, has made it attractive to consumers looking for a cheaper replacement for their cable packages.
According to Nielsen’s latest TV viewing report, YouTube, which also includes the main digital platform, notched another consecutive month as the most-watched streaming service on television screens during the month of November.
In total, YouTube captured 10.8% of total US TV viewing, up from the prior-year period’s 9%. It also delivered a sizable beat compared to Netflix’s 7.7% market share.
Other à la carte streaming platforms have also raised prices this year.
Disney (DIS) hiked the prices of its various subscription plans in October, while Comcast’s (CMCSA) flagship streaming service, Peacock, implemented price hikes in July, just ahead of the 2024 Paris Olympics.
And in June, Warner Bros.’ (WBD) Max streaming platform raised prices for its ad-free streaming plans, also ahead of key programming: the second-season debut of its blockbuster “Game of Thrones” prequel, “House of the Dragon.”
