Microsoft Corporation (NASDAQ: MSFT) apologized for raising the price of its Xbox Live Gold subscription service and said it was reversing its decision.
What happened: The technology giant based in Redmond, Washington, last week announced a $ 1 increase in the price of a one-month Gold subscription and a $ 5 increase in a 3-month subscription. The price increase was not intended to affect current Xbox Live Gold members for 12 or six months, Microsoft said in a blog.
The walk would have doubled the cost of an annual pass and a six-month pass would cost $ 60.
The resulting indignation was evident in Twitter, where a user said: “Damn [I] can switch to play station. “
Xbox users need to sell their Xbox in order to get Xbox Live gold pic.twitter.com/TIYDwg5aFp
– zay (@hruyaz) January 22, 2021
Microsoft gave in to criticism from its user base and backed down on prices over the weekend.
“We blew it today and you were right to let us know. Connecting and playing with friends is a vital part of the game and we don’t meet the expectations of the players who rely on it every day. As a result, we decided not to change the price of Xbox Live Gold, ”said the tech giant.
Why it matters: Microsoft has said it will drop the Xbox Live Gold subscription requirement to access free games. This is in line with what rivals Sony Corporation (NYSE: SNE) and Nintendo Co. Ltd (OTC: NTDOY) offer.
The fact that you don’t need Xbox Live Gold AT ALL to play Halo Infinite Mutiplayer (or any F2P game) is huge. I am so happy that Microsoft listened to the community in this case. pic.twitter.com/iD3CzSG8E9
– UberNick (@UberNick_) January 23, 2021
The company said that the price changes would not affect Xbox Live Gold members and that they would remain at the current renewal price.
New and existing members can get Xbox Live Gold for the same price they pay today, which in the United States is $ 9.99 for a month, $ 24.99 for 3 months, $ 39.99 for 6 months and $ 59.99 for 12 months.
Price action: Microsoft shares closed almost 0.4% up to $ 225.95 on Friday and rose 0.33% after-hours.
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