Sony Interactive Entertainment announced on Wednesday, August 30, that it will be implementing a global price adjustment for its PlayStation Plus 12-month subscriptions.

The new pricing structure, slated to take effect on September 6, has been unveiled along with a breakdown of the updated costs across different currencies.

The PlayStation Plus Essential 12-month subscription will now be priced at US$79.99, while the PlayStation Plus Extra 12-month subscription will come at a cost of US$134.99 US, and the premium-tier, PlayStation Plus Premium 12-month subscription will be available for US$159.99.

Despite the price hike, Sony is quick to highlight that the new rates for the 12-month subscriptions will still offer a discounted rate when compared to the equivalent cost of 1-month or 3-month subscriptions purchased over the course of a year. This move appears to be a way to incentivise subscribers to commit to longer-term plans.

For existing 12-month subscribers, the revised pricing will not be immediately applicable. The increased costs will take effect only upon their next renewal date occurring on or after November 6.

PlayStation Plus was Sony’s answer to the Xbox Game Pass, which gave players access to a collection of games that rotate periodically and gives new owners a cheaper way to access a library of quality gaming titles right out of the gate.