Microsoft Set To Increase Price Of Xbox Live Gold Subscriptions

Microsoft has announced that prices for its Xbox Live Gold is set to increase with effect from November 1st in both the United States and the United Kingdom.

The company has decided to increase monthly and yearly subscription prices for its Xbox 360 video game console service Xbox Live, which allows users to play multiplayer online games and access other related content, technology news website PC World has reported today.

According to the news report, annual subscription for the service will increase from $50 to $60, while quarterly subscription will jump from $20 to $25, whereas monthly fee will be increased from $8 to $10.

“We're confident that when the new pricing takes effect, an Xbox LIVE Gold membership will continue to offer the best value in the industry." Major Nelson, Microsoft’s relationship manager told the press.

New rates will come into effect in countries like Mexico and Canada other than US and UK. The Redmond-based software giant is ready to launch its new Xbox 360 service in holiday season this year.