Microsoft Raises Price For Xbox Live Gold Membership

Microsoft announced on Monday morning that it was increasing the price of an Xbox Live Gold membership by $10, from $49.99 to $59.99 a year, including for existing members in the U.S. starting November 1st. Members in the U.K., Canada and Mexico will also see price increases. The new price, the first time the company has ever raised its rates, represents a 20% increase, which will likely have a significant impact on the revenues of the moneymaking service.

The company is also raising the 3-month price of Gold membership from $19.99 to $24.99 and 1-month price from $7.99 to $9.99. But those who act quickly may be able to get a 1-year lock in price of $39.99, according to a special deal that launched on Monday as well.

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