YouTube hikes prices for US premium subscribers for the first time

(Reuters) -YouTube, Google’s video streaming platform, hiked prices on its monthly and annual premium plans in the United States for the first time since the subscription service was launched in 2018.

The YouTube Premium plan would cost $13.99 a month in the U.S., up $2 from before, according to the company’s website on Thursday. The price for its annual plan was hiked by $20 to $139.99.

Members who subscribed five years ago, including those who signed up originally through Google Play, would get three more months of subscription at the old price, according to YouTube.

YouTube had in April introduced new features for its premium users including letting them host Google Meet sessions to watch videos on the platform together with other users.

It has also hiked prices for YouTube Music by $1 to $10.99 in the U.S. The move follows similar price increases by Amazon Music, Apple Music and Tidal.

(Reporting by Chavi Mehta in Bengaluru; Editing by Shilpi Majumdar)