Why the price cut? Google says it’s “thanks to a number of recent infrastructure improvements” which makes it all possible:
We’ve lowered the price of our monthly storage plans to $1.99 for 100GB (previously $4.99), $9.99 for 1TB (previously $49.99), and $99.99 for 10TB, with even more storage available if you need it. How big is a terabyte anyway? Well, that’s enough storage for you to take a selfie twice a day for the next 200 years and still have room left over for… shall we say… less important things. Like before, storage continues to work across Drive, Gmail and Google+ Photos. And, of course, the 15GB plan remains free.
To put these new prices into perspective, Dropbox charges $9.99/month for 100GB of yearly storage. With Google, you can get 1TB for that price.
Apple’s iCloud storage pricing starts at $20/year for 10GB, $40/year for 20GB and $100/year for 50GB.
— Amit Agarwal (@labnol) March 13, 2014
Google says if you already pay for storage, they will automatically move you to the better plan free of charge. With Google Drive available for Mac and iOS, their cloud storage just got a whole lot better with these lower pricing options.