Having doubled in price eighteen months ago, LogMeIn Inc. has again increased the price of its premium password manager LastPass Premium. In mid-2017, LastPass Premium was just $12 (or around $16.29 AUD) per year, when it doubled to $24 (or around $32.59 AUD).

Now, just eighteen months later, the price has gone up another $12 USD per year, settling at $36 (or around $48.88 AUD).

Unfortunately, though, it doesn’t seem that customers are actually getting anything more for their money. The beneficiary here is firmly LogMeIn, though undoubtedly some of that price increase will be taken up by overheads.

However, in 2019, when cloud computing and storage is getting cheaper and cheaper (rather than more expensive), one wonders exactly what cost increase could justify a 50% price increase. A user’s password vault (and other data) likely takes up less than a single megabyte of online storage, and the Internet traffic involved in allowing users access and syncing between devices could only be measured in megabytes each year.

In other words, maybe a dollar or two per year, per user. That leaves a good $35 (or around $47.53 AUD) for LogMeIn to use for other purposes. Of course it must pay staff, overheads and other things like any business does.

It must also, according to corporate lore, pay its owners tidy profits. What’s the best way to profit? Charge your customers more without offering more!

We could appreciate the jump in price if there was a new feature, or if literally anything had changed. However, the LastPass blog on the topic merely sets out what the product already offers, and implies that despite the price increase, the product is still good value for money.

I know that I, and likely many others, will be examining what other options are around come the end of my premium subscription end of year.

What do you make of the price increase?

 

    25 Comments
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    Chandramouli Dorai
    Chandramouli Dorai
    1 year ago
    McoreD
    McoreD
    1 year ago

    That’s now on par with 1password in terms of pricing isn’t it?

    Aushiker
    1 year ago

    I have now moved over to Bitwarden and will let my LastPass subscription lapse. Bitwarden works well in my experience and for open source with a $10 pro version is much better value.

    Marty Glatz
    Marty Glatz
    1 year ago

    Keeper Security

    Phill Edwards
    Phill Edwards
    1 year ago

    I use the free version of LastPass. What extra do you get in the paid version?

    Snoozin
    Snoozin
    1 year ago

    Me too! Stopped paying for it when they doubled the price. I am hesitant in trying others, especially open-source products for security reasons.

    Daniel Gray
    Daniel Gray
    1 year ago

    I use Enpass, about $10 fee on mobile and free on desktops. Use your own cloud storage to replicate your passwords.

    OKTakeIT
    OKTakeIT
    Reply to  Daniel Gray
    1 year ago

    I like the Enpass’ ‘one time payment of $12/platform’ business model. I can combine it with Google Drive, which gives a good 15 GB of storage (with a dedicated Google account). But since Enpass also offers sync to Box, with which I have a 50 GB storage, I prefer that. If one expects total privacy, feature to sync with a local OneCloud/NextCloud server is a bonus.

    Adam
    Adam
    1 year ago

    +1 for BitWarden from me too

    Will
    Will
    1 year ago

    I found out recently that 1Password has an integration with HaveIBeenPwned, so I think it might be time to drop LastPass.

    Ray
    Ray
    1 year ago

    BitWarden here. I pay the $10 a year but it’s worth every single cent!

    Russell Cook
    Russell Cook
    1 year ago

    Time for another review of password managers so we can see if there’s more before it there?

    Scott Plowman
    Ausdroid Editor
    Reply to  Russell Cook
    1 year ago

    we were just discussing that. and yes it is in the works. Any ones you want us to look at in particular?

    Peter
    Peter
    Reply to  Scott Plowman
    1 year ago

    I use Enpass, stores everything on Onedrive or Google drive etc

    Ryan
    Ryan
    Reply to  Scott Plowman
    1 year ago

    A comparison with 1Password for their enterprise offerings would be great

    SeaWolf
    SeaWolf
    Reply to  Scott Plowman
    1 year ago

    I’m using BitWarden, which I’ve found to be great and it’s free too.

    luapbarb
    luapbarb
    Reply to  SeaWolf
    1 year ago

    Thanks for that. I had never heard of BitWarden. Looks great. Even has an option to create an organisation of 2 people for free.

    Dallin
    Dallin
    Reply to  Scott Plowman
    1 year ago

    I love and use KeePass. Free software, sync your database yourself with whichever cloud service you choose. There are a number of Android client apps available, both free and paid.

    Myk
    Myk
    Reply to  Dallin
    1 year ago

    The concept of giving all my passwords to a provider seems crazy. Isn’t LastPass’s database a massive target for hackers?

    OKTakeIT
    OKTakeIT
    Reply to  Myk
    1 year ago

    Yes, LastPass’ database has been hacked quite a few times in the past.

    The passwords are stored in encrypted forms. Encrypted in thousands of rounds. It’s practically impossible for the hacker to decipher.

    OKTakeIT
    OKTakeIT
    Reply to  Myk
    1 year ago

    Especially with the 2-factor authentication turned on, the hacker can’t pluck anything even if he gets access to the LastPass login credentials.

    Joel
    Joel
    Reply to  Scott Plowman
    1 year ago

    +1 for Bitwarden! I’ve found it’s more reliable than Lastpass and it even has a couple of extra features.

    Russell Cook
    Russell Cook
    Reply to  Scott Plowman
    1 year ago

    1Password and other cloud based that cover Win, Android and Apple seamlessly and with family plans, something along the lines of to 1 to 3 (or 5) user packs. Cheers

    AdamM
    AdamM
    Reply to  Scott Plowman
    1 year ago

    Scott, it would be really helpful if you could pay particular attention to the “families” aspect of password managers. We have so many log ins for things for the kids and the ability to share those between both my wife and me while each having our own LastPass account is invaluable.

    Jason Churchward
    Jason Churchward
    Reply to  Russell Cook
    1 year ago

    +1 for Bitwarden