It's an unfortunate truth that most services usually increase their prices over time (but understandable given the ever-increasing cost of things), and PlayStation Plus is no exception from this rule.
Sony announced earlier today that the digital service will be seeing a $10 price hike in the 12-month plan from the current $49.99 rate, making it $59.99. As for the three-month plan, it'll increase to $24.99 USD/29.99 CAD, and the monthly plan will remain at $9.99 for the US while increasing to $11.99 in Canada.
Unfortunately, there has been no mention of any added benefits to the service in exchange for the price hike, making it seem as if the higher rate is simply to keep up with growing expenses in maintaining PS Plus.
The new prices will officially go into effect on September 22 (current users will experience the new change when their current membership runs out and has to be renewed), so if you want the lower $49.99 price, be sure to pick up a subscription card or two before the deadline!
Source: PlayStation Blog
What are your thoughts on the PS Plus price hike?