Since its launch, Apple TV+ has been the streamer that makes costly shows that don’t have a huge cultural footprint, but it was cheap enough to ignore the recurring charges. That was never going to last.
Starting today, a monthly subscription to the service will cost $12.99, up 30% or $3 from the previous $9.99. The company said the price increase will go into effect in the U.S. and select international markets immediately for new subscribers. Existing customers will see the higher price 30 days after their next subscription renewal date.
While raising subscription fees every year or so has become standard in the streaming industry, the increase could help Apple, which is reportedly still losing a boatload of money on the video service.
The company’s last price hike came in 2023, when Apple bumped the price of the service from $6.99 to $9.99 per month. Since its launch in November 2019 at $4.99 per month, Apple TV+ has jumped 160% in price in just six years.
Apple TV+ isn’t alone in raising prices this summer. NBCUniversal’s Peacock raised its prices just last month by $3, with its ad-supported now plan costing $10.99 per month and its premium plus tier going for $16.99.
In a statement, Apple touted the upside that its video streaming service is remaining ad-free.
“Since its launch, Apple TV+ has expanded its deep library of hundreds of Apple Originals, with thousands of hours of premium programming across genres and brand-new releases weekly — all ad-free,” the company told Gizmodo in an emailed statement. “Subscribers can explore a rich offering of thrilling dramas, epic sci-fi, feel-good comedies and live sports.”
Apple TV+ remains one of the few major streaming services without a more budget-friendly, ad-supported plan. For comparison, even Netflix, the industry leader, offers an ad-supported plan at $7.99 per month, while its premium ad-free tiers start at $17.99.
The move comes as Apple TV+ has reportedly been losing more than $1 billion a year, with its spending on premium content far outpacing the revenue it brings in, according to The Information. Still, the service has found favor with critics and viewers alike. It’s become home to hit shows like Severance, which racked up the most Emmy nominations, 27, this year.
Despite the losses at Apple TV+, the company’s broader services business has been doing well. Revenue from that segment jumped 13% last quarter, reaching $27.4 billion.
When announcing the latest price hike, Apple highlighted some of its highly anticipated upcoming premieres on Apple TV+. That includes Season 4 of The Morning Show on September 17, Season 5 of Slow Horses on September 24, and Vince Gilligan’s newest project, Pluribus, on November 7.
Apple also noted that annual subscriptions to Apple TV+ will remain at $99, and pricing for Apple One—a bundle of Apple services including Apple TV+ and Apple Music—still starts at $19.95.
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