X Premium+ price surges 38%, biggest increase since Musk's takeover
What's the story
Popular social media platform X has announced a whopping 37.5% hike in the price of its Premium+ subscription service. This is the biggest price hike since Elon Musk acquired the company in 2022.
The new pricing is already in effect, increasing monthly charges to $22 in the US, up from $16.
Annual subscriptions will also be hiked to $229 from $168.
Strategic move
X's price adjustment aims to enhance user experience
The company has said that this price adjustment is part of its strategy to "support the experience it offers."
Existing subscribers will continue to enjoy their current rates until January 20.
The price hike is not limited to the US market, as the same changes are being implemented in international markets as well.
EU prices will rise from €16 to €21 monthly, while Canada's Premium+ rates will jump from $20 to $29.
Market impact
Some markets face steeper price hikes for X Premium+
The effect of the price hike differs from market to market.
In India, the X Premium+ plan was launched in October 2023 at ₹1,300 per month or ₹13,600 for the annual subscription for web users.
After the price revision, it now costs ₹1,750 per month and ₹18,300 for the annual subscription.
However, the platform's basic subscription price remains unchanged at $3/month in the US and ₹243.75/month in India.