Well, I'm not sure I would say it is "no good reason". It costs money to keep the system up and running. If it isn't as profitable as it needs to be, then they can either shut it down or up the price.
Well I find it hard to believe that PS+ isn't profitable. If you're going to up the price and spout meaningless buzz word like "Current market conditions" without feeling the need to provide any sort of proof of this, this isn't helped when the gaming division
drove 78% of Sony's profits in the first quarter of this year. If they said that the price increase was required to enhance services such as to pay for 2 form authentication or start providing PS+ games that aren't just indie games that no one cares about, then I'd be more understanding and even praise the decision. I don't mind added costs if added benefits are associated with it. If that's not the case then I just assume that it's because the company wants more money, and I find more often that not that's the case, especially in the game industry, which is one of the least consumer friendly industries in the world. Let's not forget Sony was also telling people that, God Forbid they wanted a refund for No Man's Sky, a game that Sony bankrolled, because it wasn't the same game they said it would be for the past 5 years,
that they'd be unable to buy the game ever again.
Yes, at the end of the day $10 more a year isn't going to be the thing that causes a majority of gamers to lose access to public utilities in order to play their games online, but given how extremely profitable PlayStation is for Sony, it's that much harder to swallow that they NEED a price increase, especially one that's 20%.
That being said, I think this is probably a good time for me to remove my credit card so it can't auto-renew when my current subscription expires.
The time for you (and the entire world) to remove your credit card was yesterday. Seriously folks, there are NO benefits to having your credit card file with Sony. They've been hacked TWICE, and there's more stories of people losing their accounts due to isolated hacks and then being told by Sony to either pay them for charges you didn't make, or lose your account and all the data and games associated with it than I can count. Just do all your purchases with Sony PlayStation cards. They're available at nearly every store, don't cost anymore than if charged to your card by Sony, AND more often than not you can get better deals if you shop around than if you just go through Sony. And if by some chance a situation comes up where you absolutely need to get a game or membership ASAP and your car broke down or you just don't feel like leaving the house, you can get digital codes instantly from Amazon. Remember folks, the less people that have your credit card info (especially those that have lost it before), the better.,