Apple is raising the price of its streaming service. The company announced on Thursday that its $9.99 per month subscription will now cost $12.99 each month, marking a $3 price increase.
The price increase will go into effect immediately for new subscribers, while existing ones will see the changes reflected 30 days after their billing cycle ends, Apple spokesperson Tom Neumayr confirmed in an emailed statement to The Verge.
Apple isn’t changing the price of its annual $99 Apple TV Plus subscription, and the hike won’t affect its Apple One bundles, which start at $19.95 per month.
Apple last raised the price of its streaming subscription in 2023, and a recent report from The Information suggested that the Severance streamer is losing $1 billion each year. This latest increase marks the third price hike for Apple TV Plus since its launch in 2019 for $4.99 per month. NBCUniversal’s Peacock similarly raised its prices by $3 last month.
“Since it launch, Apple TV+ has expanded its deep library of hundreds of Apple Originals, with thousands of hours of premium programming across genres and brand-new releases weekly — all ad-free,” Neumayr said.
Update, August 21st: Added more information from Apple.
