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You get what you pay for. If people feel they aren't getting a good deal. They will leave. We really can't have a discussion about what you should charge monthly until we see each other's members section.
For instance, Bang Bus charges $24.95 a month. But their member's area is weak. So maybe that's a good price for them. If they actually spent money on some content I bet they could retain a lot more people for a lot longer.
You should charge according to the value you bring to the table. People know if they are getting a good deal or not. If you have a lot of content then you might be able to jump from 34.95 to 39.95 and not see a difference. For the guy who did that, I would assume to has a nice membership section.
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