Apple TV quietly raised the rate of its premium subscription by $3 per month, multiple outlets reported Wednesday, making it the latest streaming service to increase its monthly rate this year, joining Netflix, Disney+, Hulu and Max, amid escalating competition between streaming services.
Apple TV raised the price of its monthly premium subscription, though it’s not the first streaming giant to do so this year.
Future via Getty Images
Key Takeaways
- Tech giant Apple raised the monthly price of its premium Apple TV+ from $6.99 to $9.99, while the price of its Apple One plans—which also include Apple Music and its gaming service Apple Arcade—increased from $16.95 per month to $19.95 for its individual package, $22.95 to $25.95 for its family package and $32.95 to $37.95 for premier.
- Apple TV follows a slate of rivals to raise their prices, including Netflix, which earlier this month raised the price of its premium plan—which includes 4K Ultra HD video and four simultaneous streams—from $19.99 to $22.99 per month.
- Netflix also eliminated its cheapest advertisement-free subscription plan in July in an effort to push customers toward its cheapest plan with ads ($6.99 per month), its $15.49 standard plan with up to two simultaneous streams, or its $22.99 premium plan.
- Hulu, which raised its prices last October to $14.99 for its ad-free plan and $7.99 for its plan with ads, hiked its prices again in August, this time to $17.99 for the ad-free version, though it kept the price of its ad-based plan at $7.99, or $9.99 when bundled with Disney+.
- Starting earlier this month, the price of Disney’s other streaming platform, Disney+, costs $13.99 per month for its ad-free premium version, an increase of $3 from $10.99.
- Warner Bros. Discovery’s Max, which rebranded from HBO Max earlier this year, raised its monthly price from $14.99 to $15.99 for its ad-free tier in January, while Paramount+ increased from $9.99 per month to $11.99, and the price of NBCUniversal’s Peacock shot up in July from $4.99 to $5.99 for its ad-free plan and $9.99 to $11.99 for its plan without ads.
Tangent
Spotify, a stalwart in the music streaming arena, plans to raise the cost of its ad-free individual premium plan by $1 to $10.99 per month, the Wall Street Journal reported this summer, amid a string of price hikes among its competitors. Amazon Music raised the price of its unlimited individual plan by the same amount to $10.99 in January (its student price also increased from $4.99 per month to $5.99). YouTube Music and Apple Music also increased their individual tier prices to $10.99 per month, while the price of Apple Music’s family plan shot up to $16.99 per month.
What To Watch For
Apple is planning a product launch on October 30, reportedly unveiling new Mac computers or an M3 Mac chip.
This article was first published on forbes.com and all figures are in USD.
