YouTube which is an online video and social media platform has increased the prices of its premium plans starting in November this year. The platform has surged its prices by $5 per month for the family premium plans. Although the social sharing platform has increased the prices for the family premium plans, it has kept the individual premium plan prices the same for the time being.
What is YouTube?
Youtube is a social media platform that is used as social media and sharing platform too by the rise in the inbuilt features in the platform from the last decade. The platform was incorporated in 2005 and later the platform was acquired by Google in October 2006, considering it the huge takeover of that time for $1.65 billion. Looking at the present economic status of youtube has risen too, google made sure they had the best division to acquire the company back in time. The platform is estimated to have a valuation of US$180 billion as of 2022.
What are the benefits of YouTube premium?
Youtube provides two premium plans which consist of a family premium plan and individual plans. The family plan is accessible to up to 5 devices. The platform provides the features like advertisement-free content to all their family plan premium or individual premium users. The platform also has an active audience for youtube music, in which the premium users are given access to use the platform in the background along with the other applications. This feature of background play has been active for all the prime users for all the audio and video content available on the platform.
What are the new premium plans of youtube?
The new family premium plans of youtube will cost $22.99 per month for the family plan access. The recent plan is increased from the previous price of $17.99 per month. The platform has announced that it has not increased the prices for the individual premium users and the prices for the individual premium users are kept the same as before, which are $11.99 per, for the time being. The new rates will be applicable for all the monthly subscribers from November, this year. Apart from this if you are a yearly subscriber you will be able to pay using old rates until the April of next year.
Why is the youtube premium getting expensive every year?
The rise in digital content platforms after the pandemic has shed the light on the opportunities at content delivery platforms. The platforms like Vimeo, Vidyard, Microsoft Stream, and Loom, along with digital content platforms like Hotstar, Netflix, and Disney are making the digital competition more fierce. The company has to work with the competition and come up with new tech solutions the platform will be constantly in need of cash so the platform might have increased the premium plans for the users.