No, they're raising their prices because subscriber growth plateaued and they're trying to squeeze money from a stone. Because Jim is a slave to shareholders.
PS+ revenue kept incresing quarter after quarter because many subbers kept moving to more expensive PS+ tiers.
They don't care about having a few subscribers more or less, they care more about having way more revenue and profit, which is what they have been achieving with PS+ since the merge with PS Now.
PS+ has been performing great for them, with gaming history records numbers. Same goes with SIE finantials or Sony finantials. They don't have any issue with it.
Pretty likely what happened is that they saw the GamePass price increase and they considered that they could do the same too. After this price increase, here in EU PS+ Premium will be 30€/year cheaper than GPU.
What people don't realize is that executives only get taken down when the shareholders feel it. The PS department is breaking all sorts of records and they're not going to let their golden goose leave as long as he lines their pockets.
Problem is, by the time things start looking bad, it's be a very tough climb to get out of the hole. Jim Ryan's a very good numbers guy but I don't think he understands the industry. Most of Sony's decisions have been very short sighted. He's only focused on the short term and we see that in every decision they make.
Just look at the latest announcement. They're increasing the price on the day Starfield releases. You're basically giving yourself bad press at a time the competition will be getting good press. A first year college marketing lesson will tell you not to do that. You don't even need a marketing department to tell you it's a bad thing.
He's the most successful CEO of a console maker in gaming history. And he was in charge of Sony Europe markeing in the PS1/PS2 days and turned EU into Sony land and their main market plus also highly increased the consolle market versus what it was before the PS1. So I'd say that he understand the industry very well.
They don't care about Starfield, they have every year multiple exclusives of that level. As could be Final Fantasy XVI, Spider-Man 2, FFVII Rebirth, VR versions of RE4R, RE Village or GT7 in recent months to name a few. Sony has way better press regarding exclusives. And to increase these prices that day proves they aren't afraid of Starfield.
And this PS+ price increse follows the recent news of GamePass price increase and removal of the $1 trial, "bad press" of the direct competitor.
Most of their decisions have been the opposite or short sighted, did help them slowly grow their revenue and userbase in many different areas and continue in a growing trend. And many other ones still didn't show their results because are long term bets, like to highly grow the manpower of all their teams, acquisitions made, and spending record investments in 2nd/3rd party deals for this generation.