YouTube TV introduces price hike

YouTube TV is raising the price of a subscription.

The streamer said it will hike the monthly price of a base plan by up to $82.99, representing a double-digit increase amid what the company said was a need to "keep up with the rising cost of content and the investments we make in the quality of our service."

The direct-to-consumer streaming service has exploded in popularity in recent months, thanks to increased audience shares for live sports programming and a widespread cable cord-cutting by younger consumers.

"We don't make these decisions lightly, and we realize this has an impact on our members," the company said in a message to subscribers. "We are committed to bringing you features that are changing the way we watch live TV, like unlimited DVR storage and multiview*, and supporting YouTube TV’s breadth of content and vast on-demand library of movies"

Nielsen data in recent months has indicated more people are turning to streaming for news, sports and entertainment than ever before, and ratings for traditional broadcast and cable channels are on the decline.

Meanwhile, legacy media companies such as Paramount, Warner Bros. Discovery and Comcast have announced plans to spin off linear television assets and invest more heavily in streamed media.

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