LastPass has doubled the price of its Premium password manager. This 100 percent price hike has happened without warning, and has understandably upset existing Premium users. And LastPass Free users aren’t faring any better, with two key features being moved from Free to Premium.
If you’re the sort of person who needs a password manager then you can’t really go wrong with LastPass. It’s widely regarded as one of the best password managers out there, despite recent security scares. Unfortunately, it’s rejigging its products and prices, and it isn’t going well.
Updates to the LastPass Lineup
In a blog post LastPass has detailed its “Updates to the LastPass personal lineup”. Moving forward there will be LastPass Free, LastPass Premium, and LastPass Families. The latter was announced a couple of weeks ago but isn’t going to become available until later this year.
The most obvious change is to LastPass Premium, which is getting a price hike from $12/year to $24/year. And that doubling in price doesn’t buy you anything new. Unless you factor in the two features that LastPass are now moving from Free to Premium.
Previously, LastPass Free users could make use of unlimited sharing and emergency access. But those two features have now been shunted up to Premium. So, Free users are losing access to two features, and Premium users are being asked to pay more to access those same features.
These changes have understandably gone down about as well as an old man farting in an elevator. Badly, for those confused by the analogy. LastPass is still good value for money, but you can’t hike prices and remove features without expecting a backlash from your userbase.
100% Price Hikes Are Hard to Take
This is a bold move. Consumers are used to price increases of 10-20 percent, and they generally take them on the chin. But LastPass is hiking the price of Premium by 100 percent, and that’s a bitter pill to swallow. Especially as it’s the paying customers LastPass should be looking to reward rather than punish. It’s a good thing password managers do a valuable job.
Are you a LastPass user? Do you make use of the Free offering? Or do you pay for the Premium service? Are you annoyed at the changes LastPass is making? Is the price hike enough to make you cancel your subscription? Please let us know in the comments below!