X Increases Premium+ Prices by 37.5%
X, the popular subscription service, has recently announced a significant price hike for its Premium+ tier, raising prices by a whopping 37.5%. This move, the largest price increase since the platform was acquired by Elon Musk in 2022, has sent shockwaves through the market.
The new pricing structure, effective as of December 21, sees the monthly cost of the Premium+ service in the U.S. jump from $16 to $22. Annual subscription fees have also seen a steep increase, rising to $229 from $168. This adjustment comes as X aims to enhance the overall user experience and support the services it offers.
Existing subscribers need not worry just yet, as they will be grandfathered into the current rates until January 20. However, international markets are not spared from the price hikes, with European Union prices climbing to €21 from €16 monthly, and Canadian rates increasing to $29 from $20.
The impact of these changes varies across different regions, with some markets experiencing more significant price hikes than others. For example, users in Nigeria will now have to pay ₦34,000 monthly for the Premium+ service, up from ₦7,300. Similarly, users in Turkey will see their rates rise to ₺770, up from ₺300.
Despite these increases, the platform’s basic subscription fee remains unchanged at $3 monthly.
Customer Reactions
Customers have taken to social media to express their dismay over the sudden price hikes, with many questioning the justification behind such a significant increase. Some loyal users have even threatened to cancel their subscriptions in protest.
Expert Opinions
Industry experts speculate that the price increase may be a strategic move by X to boost revenue and further solidify its position in the market. However, they warn that such a drastic change could alienate existing customers and deter potential new users.
Conclusion
As X rolls out these new pricing changes, the platform will undoubtedly face scrutiny and backlash from its user base. Only time will tell if the benefits of the Premium+ service justify the increased cost for consumers. In the meantime, subscribers are left to weigh their options and decide whether the added features are worth the higher price tag.