Apple TV+, home to shows like “The Studio” and “Ted Lasso,” announced Thursday it’s raising its monthly subscription price by $3 to $12.99. The LA Times reports the hike follows a trend among streamers facing rising production costs and investor pressure for higher profits. Launched in 2019 at $4.99 with free trials for Apple device buyers, Apple TV+ last increased its price from $6.99 to $9.99 in October 2023.
While the monthly price is increasing, Apple TV+’s $99.99 annual subscription and Apple One bundle pricing remain unchanged. Apple didn’t disclose subscriber numbers or specific reasons for the hike.
The streaming service falls under Apple’s services category, which generated $27.4 billion in revenue in its fiscal third quarter, up 13% year-over-year.
Unlike competitors, Apple TV+ lacks an ad-supported tier.