Starting this September, Sony's PlayStation Plus subscribers will be hit with the first price hike the service has experienced since it's 2010 launch. This change goes into effect on September 22, though people who have already paid will only be effected when their subscriptions renew.
The price increase will be based on the tier of service. Yearly subscriptions, previously $49.99, will be $59.99. Three month subscriptions, previously $17.99, will be $24.99. The monthly subscription will remain at $9.99.
Sony clarified their reasoning behind the price increase:
The new pricing reflects current market conditions while enabling us to continue providing exceptional value to our members. As a member, you will continue to enjoy the benefits and features that enable shared experiences, such as online multiplayer, free games and exclusive discounts. You will also continue to get exclusive benefits such as online game save storage and discounts across the PlayStation digital services.
Sony then clarifies that those who do not wish to pay more for PS Plus can cancel at any time. As a reminder, make sure that if you don't wish to renew at a higher price that you turn off the auto-renew setting on your PlayStation account.
What do you think? Is the first price hike in over five years warranted for a service that gives out several free games per month on top of other online perks or does this feel like an overreach from Sony?