Apple TV+, home of series including “The Studio” and “Ted Lasso,” is raising its subscription price by $3 to $12.99 a month, it announced Thursday.
The move comes as many streamers have been raising their prices, as the cost of production increases and the businesses are facing more pressure by investors to increase profits.
Apple TV+ launched in 2019 at $4.99 a month, positioned as a low-cost perk for people to watch high-quality shows and movies with a free trial if they bought Apple products such as iPhones and iPads. Since then, the streamer has raised its prices, mostly recently in October 2023 from $6.99 to $9.99.
Like other tech giants, Apple has faced scrutiny from the Trump administration on its U.S. manufacturing presence. Earlier this year, when the Trump administration proposed increasing tariffs, some analysts were concerned about the adverse effect that would have on Apple’s iPhone business, which makes iPhones in China.
Since then, Apple has increased its commitment to manufacturing in the U.S., most recently pledging an additional $100 billion in U.S. manufacturing.
If Apple continues to face pressure on major businesses including the iPhone, it could cause the company to look at other aspects of its business that aren’t drawing as much revenue, analysts have said.
In March, tech and business news site the Information reported that Apple TV+ is losing significant amounts of money. Analysts have long viewed Apple TV+ as part of the company’s larger push into services to go along with its hardware.
While Apple TV+ is increasing its monthly subscription price, it is not raising its $99.99 annual price or the cost of bundling Apple TV+ with other services through Apple One, the company said in a statement.
Apple declined to say how many subscribers Apple TV+ has or the reasons behind the monthly subscription price increase. The streaming service is part of Apple’s larger services category, which brought in $27.4 billion in revenue in its fiscal third quarter, up 13% from a year earlier.
Unlike other major streaming platforms, Apple TV+ does not offer an ad-supported version of its service.
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