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Sony Interactive Entertainment senior vice president and head of global marketing Eric Lempel in an interview with Barron’s (via ResetEra) was asked about the recent price hike for PlayStation Plus 12-month subscriptions.
He stated PlayStation needs to adjust prices based on market conditions and says they hadn’t touched the price of PlayStation Plus for 85 percent of the world in several years.
“We want to make PlayStation Plus great,” said Lempel. “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.
“I’m happy to say, unlike a lot of 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 Price of PlayStation Plus Essential for a one year subscription increased by $20 from $59.99 to $79.99, the price of PlayStation Plus Extra increased by $35 from $99.99 to $134.99, and the price of PlayStation Plus Premium increased by $40 from $119.99 to $159.99.
Current 12-month subscribers won’t see the price increase until the next renewal date that occurs on or after November 6. However, any changes you make on or after September 6 will update the plan to reflect the new prices.
A life-long and avid gamer, William D’Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.