YouTube Premium subscription fees up 71.5% in seven years... "Growing burden of fixed costs" [IT Item of the Day]

[Financial News] YouTube Premium subscription fees have risen by more than 70% in seven years. As online video services have become deeply embedded in daily life, successive price increases are fueling concerns that households are facing a growing burden from fixed costs.
According to data Lee Hoon-gi, a lawmaker from the Democratic Party of Korea on the Science, ICT, Broadcasting, and Communications Committee of the National Assembly of South Korea, obtained from the Korea Media and Communications Commission (KMCC) on the 19th, YouTube Premium's monthly subscription fee for web and Android users rose from 8,690 won in 2019 to 14,900 won this year. The increase over seven years amounted to 71.5%.
YouTube Premium prices jumped significantly on two occasions. In September 2020, YouTube raised the monthly fee for new subscribers by 20.25%, from 8,690 won to 10,450 won. In December 2023, it increased the fee again, from 10,450 won to 14,900 won.
Subscription fees through Apple's iOS also increased. The monthly price rose 54.2%, from 12,650 won in 2019 to 19,500 won today. In particular, the fee increased from 14,000 won to 19,500 won per month in December 2023.
YouTube usage time in South Korea has continued to rise. According to a sample survey of Korean smartphone users conducted by WiseApp Retail, the average monthly time spent on YouTube from January through May this year totaled 113.6 billion minutes. That figure represents a 26.4% increase from the same period in 2022.  
Lee said, "Subscription fees for OTT services such as YouTube have now become a fixed monthly expense for the public. As the use of online video services has become part of everyday life, increases in subscription fees inevitably translate directly into a greater burden on households."
He added, "It is necessary to examine whether service providers' price increases are being passed on to users unilaterally. We will assess whether the current system adequately protects users and pursue legislative improvements, including changes to the system governing the terms of use for value-added telecommunications services." 

[email protected] Yoon Hong-jip Reporter