Adobe is raising the price of its Creative Cloud services across the board in the UK, noting currency fluctuations as the reason behind the alterations.
In an email sent out to customers today, Adobe said: “As part of doing business globally, Adobe monitors currency exchange rates in order to make adjustments to our pricing up or down as needed. You may be aware that currency exchange rates have fluctuated significantly over the last few years. As a result of recent changes in exchange rates in your region, the price of Adobe products and services is increasing starting on 6 March 2017.”
The Adobe Creative Cloud includes Adobe software such as Photoshop and Premiere Pro, with the price increases varying from product to product. Adobe notes that those who have already subscribed to the Creative Cloud won’t have their fees altered, but they will be changed when their subscription ends. The increases range roughly from 15% to 25%, though many users signed up to the service on special deals, meaning that some subscriptions have risen by as much as 50%.
Adobe is the latest in a long line of tech companies to increase its prices following the decline in the value of the pound, which occurred following the UK’s decision to leave the European Union, with the likes of Apple, Microsoft and Tesla having all made changes to the price tags of their hardware and software. The value of the pound sharply declined following the EU referendum result, with it falling to a 31-year low in October 2016. With MPs overwhelmingly backing Article 50, the bill that will trigger Brexit, in a vote revealed yesterday, it’s predicted that it could experience greater decline in the near future.
The tech world warned against the effects of Brexit prior to the referendum, explaining how currency fluctuation and the restrictions on free movement for workers between the UK and EU would present problems for the industry. It’s expected that more tech companies will announce price increases as the effects of Brexit continue.