Alphabet Inc. (GOOGL  ) (GOOG  ) subsidiary Google's video streaming platform YouTube is pushing forward with a significant price increase, raising its base TV subscription plan from $72.99 to $82.99 per month, effective immediately for new customers and Jan. 13, 2025, for existing subscribers.

What Happened: The streaming service attributes the 14% price hike to the "rising cost of content," marking another substantial increase in its pricing strategy. Since March 2018, YouTube TV has more than doubled its monthly rate, escalating from $40 to $83 in just under six years.

"We don't make these decisions lightly," the YouTube TV team acknowledged in a statement on X, emphasizing their commitment to delivering comprehensive entertainment options. The service offers more than 100 channels, unlimited cloud DVR storage, up to six account profiles, and three simultaneous streaming capabilities.

Why It Matters: This latest price adjustment follows the service's March 2023 increase from $64.99 to $72.99, signaling a trend of continuous value reassessment in the competitive streaming market.

The move comes as streaming platforms like Netflix Inc. (NFLX  ) and YouTube navigate complex content acquisition and pricing landscapes.

YouTube dominated election day livestream coverage in the 2024 U.S. presidential election, capturing over 80% of total watch time across platforms. Streams Charts reported nearly 84 million hours of election-related watch time, significantly surpassing the September debates' viewership.

The video platform Google acquired for $1.65 billion in 2006, has generated $50 billion in combined advertising and subscription revenue over the past four quarters, marking a milestone in its evolution from a user-generated content site to a major streaming player.