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Sony has increased the prices for its PlayStation Plus subscriptions, with rates going up by as much as 35%. This change impacts the 12-month subscription rates across all their service tiers: Essential, Extra, and Premium.
Eric Lempel, the Senior Vice President and Head of Global Marketing at Sony Interactive Entertainment, addressed this decision in a chat with Barron’s. Lempel expressed, “We want to make PlayStation Plus great. With our reboot last year and introducing the tier system, a lot of consumers have recognized that there’s a lot of value in PlayStation 5. Like practically everything else in the world, we have to look at our pricing and we have to adjust to market conditions.”
He also pointed out Sony’s hesitance to adjust PlayStation Plus prices, adding, “I’m happy to say, unlike many other subscription services out there, we haven’t touched the PlayStation Plus pricing for 85% of the world in many years. So, this was the first time we did something there.”
The new prices stand as follows: The Essential tier moved from $59.99 to $79.99. The Extra tier now costs $134.99, up from $99.99, and the Premium tier jumped from $119.99 to $159.99. Sony clarified that the change aimed to maintain the quality and benefits of the PlayStation Plus service.
Beyond Sony, other giants in the industry also made pricing shifts. Microsoft, for instance, bumped up the cost for its Xbox Game Pass. In fact, several entertainment subscription services, like Apple TV+, Apple Arcade, Disney+, and Netflix, have recalibrated their pricing in line with market trends.
Two weeks ago, Sony announced their new PlayStation 5 Slim, which not only has a bigger story but also, you guessed it, has a bigger price.