Apple increases Apple TV+ monthly subscription price to $12.99

Apple has announced a price increase for its Apple TV+ streaming service, raising the monthly subscription cost by 30% from $9.99 to $12.99. The new pricing will apply to new customers starting Thursday and will take effect for existing subscribers 30 days after their next renewal date. Interestingly, the annual subscription price remains at $99.99, and the Apple One bundle pricing also stays unchanged, starting at $19.95 per month. Since its launch in 2019 at $4.99 per month, Apple TV+ has undergone three price hikes, with the previous increase in 2023 raising the price to $9.99. The price adjustments come amid reports that Apple is losing over $1 billion annually on the streaming service, which is currently the only unprofitable segment in Apple’s portfolio. Despite fewer subscribers compared to competitors like Netflix, Disney+, and Amazon Prime Video, Apple TV+ has achieved significant critical acclaim, including a record 81 Emmy nominations this year, led by the thriller series ‘Severance.’ The company appears to be balancing cost increases with efforts to maintain value and competitive content offerings.