A couple months after Microsoft revealed plans to increase Game Pass subscription prices, Sony is getting in on the act. The company is bumping up the annual prices of all three PlayStation Plus plans on September 6th.
An annual Essential subscription will soon cost $80 per year, up from $60. The Extra plan is going up by $35 to $135 per year, while an annual Premium plan will soon cost $40 more at $160. The price changes won't take effect for current PS Plus users on an annual plan until their next renewal date that's on or after November 6th. If you make any changes to your plan between September 6th and then (such as changing tiers), the new pricing will apply.
Sony has not announced changes to the monthly ($10 for Essential, $15 for Extra and $18 for Premium) or quarterly ($25 for Essential, $40 for Extra and $50 for Premium) for the time being. It notes that the annual plan is still less expensive than a monthly or quarterly subscription in the long run.
You still have a few days to stack an extra year (or two or three) onto your existing PS Plus plan at the current prices. It's too early to tell whether it will be worth waiting until Black Friday in case there are better deals, so if you have the cash to spare, now might be the time to add extra time to your plan.
Sony notes that it's bumping up PS Plus plans globally to "enable us to continue bringing high-quality games and value-added benefits to your PlayStation Plus subscription service." That's maybe a difficult case to make given the three monthly games that will be available for all three tiers in September: the reboot of Saints Row, Black Desert – Traveler Edition and (a game I'm admittedly interested in) Generation Zero, all of which have received middling or poor reviews.
Although they're somewhat different offerings, it's worth noting that PS Plus is generally less expensive than the equivalent Game Pass tiers. An annual PS Plus Essential plan is $52 less than a year of Xbox Game Pass, while a 12-month PS Plus Premium membership is $44 less expensive than Game Pass Ultimate over the same timeframe.
That said, Microsoft offers access to all of its first-party games via Game Pass upon their release, an enticing offering that Sony can't match. The new Game Pass Core tier (which is replacing Xbox Live Gold) is $60 per year and includes full online multiplayer access and an initial library of 25 games.