Apple has announced a price increase for its Apple TV+ streaming service, marking its second price hike in less than two years. Starting Thursday, the monthly subscription fee will jump to $12.99 in the United States and several other countries. Existing subscribers will experience the price change 30 days following their next billing cycle, while new subscribers will encounter the new rate after a seven-day trial period. The annual subscription plan, however, will remain unaffected by this change.
This price adjustment follows a previous increase in 2023, which saw the monthly fee rise to $9.99 from $6.99. Before that, in 2022, the price had been increased from an initial $4.99. Apple’s decision to raise prices aligns with a broader trend in the streaming industry. Competitors such as Netflix and Peacock have also implemented price hikes this year, reflecting the increasing costs associated with producing high-quality original content and securing valuable licensing agreements. Music streaming giant Spotify has also recently increased its subscription fees in numerous markets.
While Apple TV+ boasts significant popularity and reportedly boasts a subscriber base nearing 45 million, the company refrains from publicly disclosing its viewership figures. Reports earlier this year indicated the service is incurring substantial annual losses, exceeding $1 billion, despite its substantial growth. The price increase is likely a strategic move to offset these losses and ensure the continued investment in new and engaging content.
The price hike comes shortly after Apple expanded Apple TV+ to Android devices, a move designed to broaden its reach and attract a larger global audience. Furthermore, the increase follows the release of “F1: The Movie,” Apple’s highest-grossing theatrical film to date, showcasing the company’s continued investment in diverse content across various platforms.
