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Apple TV+ joins streaming giants to raise subscription prices

Nature

In a move that reflects a broader trend in the streaming industry, Apple has announced a significant price hike for its Apple TV+ service.

The monthly subscription fee is now $9.99, up $3 from the previous $6.99, marking the second increase since the service launched. The annual plan will see a $30 increase, from $69 to $99.

Apple’s decision follows similar actions by other major streaming platforms, including Netflix, Hulu and Disney+.

Apple TV+’s price hike comes just a year after its last adjustment, when fees increased from its launch price of $4.99 to $6.99. Apple justified the price increase by noting the constant addition of high-quality content and innovative features to its services since the launch of Apple TV+ four years ago.

Apple One, the tech giant’s bundle, which includes tiered bundles of Music, TV+, Arcade, News+, and Fitness+, is also getting price adjustments.

The monthly price of the basic package, which covers music, TV+ and arcade, will increase from $4.99 to $6.99. Apple News+ will now cost $12.99, down from $9.99. The company said that since its launch, it has “tripled” the number of titles available for Apple Arcade and added more than 100 new publishers to Apple News. The top-tier Premier plan will now be priced at $37.95 per month.

Apple’s services segment has been a significant source of revenue for the company. During the company’s third fiscal quarter, the services business brought in $21.21 billion, making it Apple’s second-largest business behind the iPhone, which generated $39.67 billion in the during the same period.

While many streaming services have introduced ad-supported tiers to offset costs and provide a more affordable option for subscribers, Apple TV+ remains one of the few that does not offer an advertising option. But as the company continues to expand its service business, advertising could be introduced.

Apple TV+ has increased its monthly subscription fee to $9.99 and its annual plan to $99.
Chesnot/Getty

The streaming industry’s pricing adjustments come as platforms seek to balance the costs of producing and acquiring high-quality content while maintaining a competitive edge in an increasingly saturated market.