From September 22, a 12-month PlayStation Plus subscription will run you $59.99 in North America ($69.99 CAD in Canada), as opposed to the standard $49.99.
News of the abrupt price hike hails from PlayStation Blog, where Sony confirmed that three-month subscription plans will also change to $24.99 USD ($29.99 CAD), while a single month’s worth of membership will soon cost $11.99 CAD in Canada – it’ll remain locked at $9.99 in the States.
Per PS Blog:
Starting on September 22, 2016, prices for PlayStation Plus memberships will change to $59.99 USD/ $69.99 CAD for twelve months and $24.99 USD/$29.99 CAD for three months. The monthly plan will change to $11.99 CAD in Canada, and remain $9.99 USD in the U.S. If you are a current member, the new prices will take effect if your membership renews on or after this date.
PlayStation Plus strives to enrich your PlayStation experience through a world-class service built for our fans. This marks the first time that PS Plus membership prices will increase in the U.S. and Canada since the launch of the service in 2010. The new pricing reflects the current market conditions while enabling us to continue providing exceptional value to our members. As a member, you will continue to enjoy the benefits and features that enable shared experiences, such as online multiplayer, free games, and exclusive discounts. You will also continue to get exclusive benefits such as online game save storage and discounts across the PlayStation digital services.
Taking into effect on September 22, this is the first shake up to the PlayStation Plus price since 2010, and is likely Sony’s way of preparing for not only the launch of PlayStation VR in October, but also the all-but-confirmed PS4 Slim and, potentially, the hardware refresh known as PS4 Neo.
Source: PS Blog