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Apple has announced a price increase for its streaming service, Apple TV+, raising the monthly subscription fee from $12.99 to $14.99, or $119 annually, up from $99. This adjustment aligns Apple TV+ more closely with other major streaming platforms.
Apple TV+ is also part of the Apple One bundle, which combines several Apple services including iCloud storage and Apple Music. The cost of the individual Apple One plan has been raised from $19.95 to $21.95 per month.
When Apple TV+ debuted in 2019, it was priced at just $4.99 per month, making it one of the most affordable options in the streaming market. Since then, the service has expanded its content library significantly, featuring popular shows like the fourth season of the comedy series “Ted Lasso” and high-profile releases such as “F1.”
This price increase follows a similar move in July, when Apple raised the monthly fee for Apple Music by $1, citing increased licensing expenses.
Despite the price adjustments, Apple reported strong growth in its services division during the third quarter, with revenue reaching $30.7 billion, a 12% increase year-over-year. However, the gross margin for services declined slightly, attributed to a shift in product mix and currency fluctuations.
In a recent announcement regarding CEO Tim Cook’s upcoming departure on September 1, Apple highlighted that the expansion and focus on services have been a key part of his leadership strategy.