ChatGPT is a free-to-use product, and most of its users have been using it that way. However, if you want to use this platform to its fullest potential, you can sign up for ChatGPT Plus. It costs $20/month, but it won’t be that way forever. According to a new report, the price of ChatGPT Plus could more than double in the next five years.
If you don’t know what ChatGPT Plus is, it’s a way to get more functionality out of the AI chatbot. Using it, you’ll have access to more powerful models like GPT-4 Turbo. Also, you’ll be able to use and create GPTs, which are like specialized versions of ChatGPT. Along with that, you’ll be able to try out new features coming to the platform sooner than non-paying users. If you’re an avid ChatGPT user, then you should give it a try.
ChatGPT Plus could double in price in five years
Prices are going up across the board, but this isn’t the main reason why ChatGPT is doing this. The company is on the prowl for investors. While the company has been making quite a bit of money, it’s all being gobbled up by expenses, so, none of the money it’s made so far this year will be profit. As such, OpenAI is looking around for some more money to help soften the financial hit it’ll take at the end of the year.
The company predicts that it will make about $3.7 billion in revenue this year (it raised $300 million in August alone), which is nothing to sneeze at, especially for a company we all keep calling a start-up. However, it could lose $5 billion due to typical company expenses.
Right now, OpenAI is raising money on a $150 billion valuation, and the report states that it could raise up to $7 billion from investors. If so, then consider that the company’s Christmas bonus.
But, that won’t stop prices from rising
This isn’t all good news. While OpenAI could earn some more money for its troubles, the users aren’t getting off easy. The company told investors that it plans to raise prices on its ChatGPT Plus subscription service. It plans to double the ChatGPT Plus subscription to $44/month within five years. That’s a pretty massive jump. Sure, that’s five years down the road, but it shows that this service has the potential to reach such a high price in the future.
Imagine paying $44/month for something you pay $20/month today. We can’t say that it’s unexpected, to be honest. Netflix used to cost $7.99/month, but the cheapest ad-free tier is now $15.49/month. Other streaming services are going down that route.
We’re already going to see the first price hike for ChatGPT Plus before the end of the year. It’s going to be $22/month before 2025.