Apple Increases Streaming Prices

On Friday, Apple announced a price hike for its streaming service, Apple TV, raising the monthly fee from $12.99 to $14.99, or $119 annually, up from $99. This move also affects the Apple One service bundle, which combines Apple TV with offerings like iCloud storage, Apple Music, and Apple Arcade. The price for an individual Apple One plan is now $21.95, up from $19.95.

The last time Apple adjusted its streaming prices was about a year ago, when they increased from $9.99 to $12.99. It’s worth noting that Apple TV isn’t alone in this trend; several other streaming platforms, including Peacock, Netflix, Amazon Prime, Hulu, Disney+, Paramount+, Max, and YouTube Premium, have also seen price increases in various forms over the past few years. Some of these hikes have specifically targeted ad-free streaming options.

When Apple TV first launched in 2019, the subscription cost was just $4.99 per month. The service features popular shows like “Ted Lasso,” “Your Friends and Neighbors,” “The Morning Show,” “Severance,” “Silo,” and exclusive rights to Charlie Brown specials and Formula 1 racing.

Additionally, Apple Music saw its subscription price increase in July, moving from $10.99 to $11.99 per month.

In its latest earnings report, Apple showcased a record June quarter, generating $109.4 billion in revenue, which surpassed analyst predictions of $108.65 billion. This report comes just before CEO Tim Cook’s anticipated departure.

Driving factors behind Apple’s robust performance include a notable 22% increase in iPhone sales and record revenue from Mac products during the spring quarter. Tariff refunds also positively influenced profits, contributing approximately 5% to the company’s bottom line throughout this period.

Recently, Fox Business has reached out to Apple for further comment on these developments.