Apple Inc.
AAPL,
is raising the monthly price of its TV streaming subscription plan to $9.99 from $6.99, following other streaming brands like Netflix, Disney and Hulu that have upped prices this year.
The Apple TV+ service is increasing by $3, and prices for its video game service Apple Arcade are climbing to $6.99 from $4.99, and Apple News+ prices are increasing to $12.99 from $9.99. The price increases will go into effect on Wednesday.
“The subscription prices for Apple TV+, Apple Arcade, Apple News+, and Apple One will increase in the U.S. and select international markets beginning today,” Apple told MarketWatch. “Existing subscribers will see these price increases 30 days later, on their next renewal date. We are focused on delivering the best experiences possible for our customers by consistently adding high-quality entertainment, content, and innovative features to our services.”
Apple also offers an all-in-one bundle with the three aforementioned services for $37.95 a month.
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The news comes as several subscription services have increased prices in 2023. Max, Hulu, Disney
DIS,
Netflix
NFLX,
Paramount
PARA,
all increased prices of their ad-free tiers, and in some cases debuted a lower cost ad-supported option. Apple does not currently have an ad-support subscription tier of Apple TV+.
When Apple TV+ launched in 2019 the price as $4.99, half of what it is after the most recent increase.
Shares on Apple Inc. dropped 1.08% during Wednesday afternoon’s trading, and are up 32.04% to date in 2023.
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