In a recent move, Sony raised the price of all its PlayStation Plus 12-month subscriptions globally by approximately 30%. When questioned about this decision, PlayStation's top business executive defended it, stating that the company had to "adjust" to market conditions. The price for 12 months of PlayStation Plus Essential went up from $59.99 to $79.99, PlayStation Plus Extra from $99.99 to $134.99, and PlayStation Plus Premium from $119.99 to $159.99.

Sony's interpretation of the significant price increase was that it would allow them to continue delivering high-quality games and additional benefits to the PlayStation Plus subscription service. The gaming giant faced criticism over the decision and when asked to justify it, Eric Lempel, Sony Interactive Entertainment business chief, stated that Sony had no alternative but to raise the price of its subscription services.

Lempel further justified the hike by citing the improvements Sony continues to make towards PlayStation Plus. He stated that many customers have recognized the value in PlayStation 5, and just like everything else in the world, they have to adjust to market conditions in terms of pricing. Lempel concluded by saying that unlike many other subscription services, PlayStation Plus pricing hasn't been updated for 85% of the world for many years until now.

Notably, the price increase of PS Plus occurred soon after Microsoft raised the prices for Xbox Game Pass. Other entertainment subscription services, including Apple TV+, Apple Arcade, Disney+, and Netflix, also experienced price hikes this year.