Apple has announced that its streaming service, Apple TV Plus, will increase in price by $3 to $12.99 per month, marking the third time since its launch in 2019. The change affects new subscribers immediately and existing ones after a 30-day billing cycle ends.
The company cited expanding its library of original content as a reason for the price hike. Since its launch, Apple TV Plus has added hundreds of Apple Originals, with thousands of hours of premium programming available weekly. This increase is also similar to NBCUniversal’s Peacock, which raised prices by $3 last month.
However, it appears that the pricing hike may be largely offset by revenue losses. A recent report from The Information suggested that Apple TV Plus is losing $1 billion annually. Nevertheless, existing annual subscribers and those bundled with other services like Apple One will not see an increase in cost.
Source: https://www.theverge.com/news/763486/apple-tv-plus-streaming-price-increase