Rackspace Hosting announced that it is lowering the price for cloud bandwidth and content delivery network services by 33%. The company also announced that it is implementing tiered pricing for its open cloud product portfolio, starting with Cloud Files, its object storage service. The new pricing changes will take place over the next several weeks, beginning on February 22 with tiered pricing for Cloud Files. Rackspace’s customers deploying bandwidth-intensive workloads serving large amounts of content will benefit from the lower price of bandwidth, including CDN bandwidth. The price will change from 18c to 12c per GB. In addition to the price reduction for bandwidth and CDN bandwidth, Rackspace is introducing a tiered pricing structure. The first product to feature tiered pricing is Cloud Files object storage. The volume discounts range from 10c per GB per month for the first 1TB, decreasing to 7.5c per GB per month and even lower for storage amounts over 1024 TB. Rackspace will roll out tiered pricing for additional products throughout 2013, the company said.