It’s my understanding they hadn’t raised their rate in over a decade. Also, it a much more modest price increase for a yearly subscription. I think mine will be going from $60 to $80. Still a 25% jump.
I think the larger increase for monthly is to encourage people to just get an annual subscription. And I honestly can’t see why anyone does a monthly subscription.
As for Strava’s business decision, the bottom line is none of us know squat about their operation. They have a huge number of users and likely have a good idea what pricing will work best for them. Of course, they could get it wrong. Remember “New Coke”. But if they screw-in up, they can readjust their pricing.
My $20 more a year is trivial.