Time to save your pennies or raise your rates — beginning April 16, Adobe is increasing North American prices on its subscription-based offerings for the first time since Creative Cloud launched in 2012.
Subscribers to Creative Cloud for teams will take the price hike on the chin, with the monthly rate increasing 14.3% from $69.99 to $79.99. Creative Cloud for individuals will pay 6% more as the rate climbs from $49.99 to $52.99, and subscribers to single CC apps will be on the hook for a mere 5% upcharge, paying $20.99 rather than $19.99. (The popular Creative Cloud Photography plan, which includes Photoshop and Lightroom for $9.99, is not slated for an increase.)
For annual subscribers, the new price will go into effect at the end of an annual term ending on or after April 16. That means you can lock in the lower price for a year by switching to a prepaid annual plan before then. (Adobe posted instructions for doing this at its web page explaining the new pricing.)
The price increase was announced last year, but Adobe revealed the exact date it would take place earlier this week.
It was a good week for Adobe, with plenty of smiles on the company’s San Jose, CA campus despite news that Dolby had filed a lawsuit against the company on Monday alleging copyright infringement and breach of contract on Adobe’s part. (Basically, it’s a squabble over licensing fees.) By Friday, Adobe was Wall Street’s darling, having reported record revenue of $2.08 billion in the quarter ending March 2. Revenue from Creative Cloud was up 30% and the company’s net income was up 46% compared to the same period last year; Adobe repurchased 1.6 million shares during the quarter.
Shares of Adobe closed at $225,55, up just over 3% for the day, after financial pundit Jim Cramer went on CNBC to call it “the hottest stock in Silicon Valley.”