In spite of a wildly successful start to the program—tons of new users, a stellar safety record, neighborhoods clamoring for more stations—Citi Bike still hasn’t managed to become profitable, and the company that runs the program is considering raising the price of membership, the Daily News reports.
New Transportation Commissioner Polly Trottenberg told the paper, “We’re talking to them. I would put it this way—all options are on the table. I think everyone agrees it turned out to be a real bargain for New Yorkers, who used the system twice as much as users of other cities.” Last year, former Transportation Commissioner Janette Sadik-Khan noted that the company would “have to document increased costs in their operating expenses to increase rates.”
But really, a hike in prices wouldn’t exactly be the end of the world; at $95 for annual membership, $25 for a week pass, and $9.95 or a day pass, the program is a pretty great deal, and would have to get significantly pricier to veer into “overpriced nonsense” territory.
The possibility of government subsidies for the program was also raised at a hearing yesterday, though the Department of Transportation has yet to take a position on it. In any case, if you were on the fence, might be a good time to snag one of those $95 year-long passes while you can.
Follow Virginia K. Smith on Twitter @vksmith.