YouTube TV has hiked their monthly subscription rates to $64.99 following new channel additions. This modification in price might make them much less popular than the cable TV services with whom they are trying to compete for audience.
The new billing will be active for new customers starting June 30th and to existing customers from their next billing cycle. YouTube TV in 2018 was at a price of $5 per month which hiked to $50 per month in 2019. The increase in prices is said to be a result high cost of programming for the TV Streaming. This is a consequence of collapse of the TV industry due to cord-cutting the rate of which has accelerated due to the pandemic.
YouTube is adding 14 new channels which include Nickelodeon, Paramount Network, VH1, TV Land, MTV, Comedy Central, and BET, making the total of Youtube channels to 85. These channels are already added to the plan this month. Other channels like MTV2, MTV Classic, Nick Jr., Teen Nick and Nick Toons will be added later, the company says. They recently added premium channels like HBO and Cinemax.
The price hike was not announced by YouTube until the month of May, but now is has been quite a trend that the addition of new channels means the prices are going high. Other similar live TV providers including Sling TV, Hulu, etc. also offers less channel selection compared to cable and satellite TV providers. These companies have also increased the prices along with addition of new channels over the years.
YouTube is apparently focusing on the addition of better features that getting more customers. A new feature was announced on 30th of June where the users can jump to various segments from the select programs. This is already available in TV and will be in smartphones from next month.
YouTube in an announcement said that they are completely aware of the difficulty faced by users due to the price hike. They also added “That said, this new price reflects the rising cost of content and we also believe it reflects the complete value of YouTube TV, from our breadth of content to the features that are changing how we watch live TV”
“YouTube TV is the only streaming service that includes a DVR with unlimited storage space, plus six accounts per household each with its own unique recommendations, and three concurrent streams. It’s all included in the base cost of YouTube TV, with no contract and no hidden fees” wrote Cristian Oestlien, the product manager YouTube TV.