There could be some bad news for Xbox Live Gold subscribers in Latin America, with the rumored increase in the annual membership fee in the region.

According to SoloXboxOne, there is a possibility that the fee for this gaming service will increase by 40 percent by next month.

It added that the hike will apply in countries like Mexico, Argentina, Brazil, Chile and Colombia.

WinBeta added that the Spanish website, SoloXboxOne, received an e-mail from Microsoft, which notified them of the impending price increase.

Some Mexican users have also reportedly already had a 50 percent increase in their monthly rate.

In addition, Attack of the Fanboy advised gamers that since the rate increase will not come until Feb. 18, it would be better to stock up on Xbox Live Gold membership cards.

The same report said that many gamers are hoping that the rate will not also increase in other regions, as it is already very expensive.

Meanwhile, 1080 Players mentioned that gamers can still renew their subscription at the current and discounted rate.

It explained that this will allow gamers to have the entire year at the lower rate.

"In reality, you're simply amortizing the distribution but hey, least you get to hold onto your own money longer," added the same report.

ICXM noted that though Microsoft has not yet released any official information regarding monthly fees, e-mails sent to subscribers indicate that an increased rate may indeed be coming.

Microsoft has not also replied to ICXM's queries about the price hike.

An Xbox Live Gold subscription for an entire year usually costs around $60, as per Best Buy.

The Xbox official website noted that by subscribing to this service, gamers are given free games every month.

It noted that Xbox Live Gold members also have exclusive access to a collection of games twice per month.

But that's not all. The website added that all Xbox 360 Gold titles are playable on the Xbox One.

Another feature offered with the Gold subscription is the Xbox One Backward Compatibility, which allows players to enjoy games with their friends, even with different consoles.

Aside from these perks, there are also exclusive member discounts on games in the Xbox Store, ranging from 50 to 75 percent.

With the possible increase in the rates in Latin America, gamers are expected to be dismayed, since they are currently enjoying a lot of freebies and discounts at a lower price.