Apple TV+ has become the latest in a long line of streaming services to increase subscription prices this year, doing so for the second time in a year. The platform is home to many popular original series, including Ted Lasso, Severance, and The Morning Show. In addition, the streaming platform only had one monthly subscription service instead of the tiers included with other streamers.
Now, Variety reports Apple TV+ will be raising the price on their monthly and annual subscriptions, joining other streaming services in the process. The monthly cost will be jumping from $6.99 per month to $9.99 per month, while an annual plan will be going up from $69 per month to $99 per month. This means viewers who want to watch highly-anticipated shows like Monarch: Legacy of Monsters will need to pay more monthly to see them.
Why Streaming Services Are Becoming More Expensive
The increased cost for Apple TV+ makes the second price hike for this service in a year. While the service originally launched at $4.99 per month, the price was raised to $6.99 per month in October 2022. However, the streamer is now joining the likes of Netflix, Disney+, Hulu, and Max in bumping streaming service prices even higher.
Price increases are likely caused by multiple factors, including the cost of creating original content while ensuring the company can still make a profit. However, recent increases may also be a response to the AMPTP’s new deal with the WGA, which includes writers getting residuals from successful streaming programs. This means companies will earn less money for themselves, thus increasing the price for subscription services.
While this means it will be pricer to watch The Morning Show season 3 or Invasion season 2, it underscores streaming’s ever-changing environment. It’s possible other streaming services will raise prices in the coming months as production gets more expensive. As for Apple TV+, it still remains a cost-effective streamer compared to others despite the new price hike.
