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Apple has announced a 30% price hike for its Apple TV+ streaming service, with the new monthly subscription cost set at $12.99, up from $9.99. The updated pricing is effective for new customers starting Thursday and will impact current subscribers 30 days after their next renewal date.
Subscription Details
The yearly subscription rate remains unchanged at $99.99, and the price for the Apple One bundle of services, starting at $19.95 per month, also remains the same. This marks the third time Apple has raised the subscription price for Apple TV+ since its launch in 2019.
Reasons Behind the Price Hike
Reports suggest that Apple is losing over $1 billion annually on its streaming service, making it the only unprofitable service in Apple’s portfolio. Despite earning numerous award nominations and wins, Apple TV+ still lags behind competitors like Netflix, Disney+, and Amazon Prime Video in subscriber count.
Recent Achievements
Apple recently received a record-breaking 81 Emmy Award nominations, with the series “Severance” leading as the most-nominated series of the year.
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