Apple is raising the price of its Apple TV+ subscription streaming service for the first time.
Apple TV+ will jump from $4.99 per month to $6.99 per month under the new pricing structure, while the annual plan will jump from $49 per yer to $69 per year.
“We introduced Apple TV+ at a very low price because we started with just a few shows and movies,” Apple said in a statement to The Hollywood Reporter. “Three years later, Apple TV+ is home to an extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment from the world’s most creative storytellers.”
In other words, as the amount of content has grown, the price was bound to grow accordingly. Apple TV+ is home to shows like Ted Lasso and Severance, as well as films like CODA.
But Apple TV+ is not the only Apple service to see a price hike.
Apple Music will raise the price of its single plan by $1 per month to $10.99, its family plan by $2 per month to $16.99 per month, and the annual plan to $109 per year, a $10 increase.
And the Apple One bundle, which includes Apple TV+, Apple Music, Apple Arcade and other services, will raise the price of its individual plan by $2 per month to $16.95, its family plan by $3 per month to $22.95, and its premium plan by $3 per month to $32.95 per month.
“The change to Apple Music is due to an increase in licensing costs, and in turn, artists and songwriters will earn more for the streaming of their music,” the statement added. “We also continue to add innovative features that make Apple Music the world’s best listening experience.”
For subscription streaming services, price increases are a fact of life. Netflix, Disney+ and Hulu have all raised prices this year, and those price hikes have in turn led to renewed interest in less expensive ad-supported tiers.
Disney+ and Netflix, which had previously been ad-free, will launch less expensive options with advertising this year. Apple TV+ is the last major streaming video service to be ad-free.