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Apple TV+ price jumps 30% to $12.99 monthly
Apple is increasing its Apple TV+ subscription price from $9.99 to $12.99, a 30% hike affecting new customers immediately and current subscribers after their next renewal. The move aligns with ongoing price increases in the streaming industry, despite Apple TV+ not being profitable, losing over $1 billion annually, and still trailing behind competitors in subscriber count.
Key points
- Apple TV+ monthly subscription increases from $9.99 to $12.99, starting for new customers soon and for current ones after 30 days post-renewal.
- Yearly subscription remains unchanged at $99.99 and Apple One bundle pricing stays the same.
- This is the third price increase since the service's launch in 2019, when it started at $4.99.
- Apple TV+ is reportedly losing over $1 billion annually, making it unprofitable compared to its other services.
- Despite critical acclaim and major award nominations, Apple TV+ has fewer subscribers than Netflix, Disney+, and Amazon Prime Video.
Why it matters
- Streaming services are increasingly experiencing price hikes as they face additional costs and competition.
- Apple is positioned uniquely in the streaming market with its significant investment in original content despite financial losses.
- This price increase is part of a broader industry trend as streaming platforms seek profitability while balancing content production expenses.
The increase in Apple TV+ subscription prices highlights the streaming service's challenges in achieving profitability and competitive standing in a crowded market, even as content quality has garnered critical recognition.