updated 02:37 pm EDT, Thu March 13, 2014
Across-the-board drop in price for Google cloud storage
Google has drastically reduced the price of Google Drive storage. The changes, which will certainly apply pressure on competitors in the cloud storage marketplace, such as Box, Dropbox, and Microsoft OneDrive, sees users being offered 100GB of Google Drive capacity for $1.99 per month, down from the $4.99 it was priced at previously, with higher storage values also seeing considerable reductions in cost.
Google Drive's new pricing structure
The Drive storage is shared across Google Drive itself, Gmail, and for images larger than 2048x2048 pixels on Google+, with users continuing to have 15GB free, according to the Google Drive blog. Those looking for 1 terabyte of online storage can pay Google $9.99 per month for an allocation, a price cut of $40 from its earlier $49.99 price. Users requiring far larger capacities of storage can opt for 10TB, 20TB, or 30TB add-ons, priced at $100, $200, and $300 respectively.
Microsoft recently altered the cost of its service to include a monthly payment option, with allocations of between 50GB and 200GB priced at $4.49 and $11.49 respectively. Dropbox charges $9.99 per month for 100GB, $20 for 200GB, and $50 for 500GB. Both Microsoft OneDrive and Dropbox offer a yearly payment option that lowers the cost of storage, something Google does not currently offer customers.