Elon Musk's X platform has raised the Premium Plus subscription fee to $22 per month.

Tesla, Inc. (TSLA.US) CEO Musk's social media site X announced that in the new year, the company will be increasing the subscription fee for Premium Plus from $16 to $22 per month, marking the largest increase since Musk acquired the platform in 2022. The price adjustment took effect first in the US market on December 21, with existing users able to maintain the original price until January 20, 2025. International markets saw a simultaneous increase, with the monthly fee in the EU region rising from 16 euros to 21 euros, and in Canada from 20 Canadian dollars to 29 Canadian dollars. The monthly fees for the Basic and Premium plans remain unchanged at $3 and $8, respectively. It is understood that Premium Plus allows for ad-free content, access to longer content, sharing ad revenue, use of monitoring tools, and more access to the platform's Grok AI model. The increase in Premium Plus subscription fees is expected to increase the payout for the creator revenue sharing program. Competitors in the social media space, such as Snap (SNAP.US) with Snapchat and Reddit (RDDT.US), have also introduced premium package subscription fees of $3.99 and $5.99 per month, respectively. Meta (META.US) does not have subscription fees for Facebook, but it allows users to set subscription fees for their content to generate additional income.