Apple TV unveils 40% price increase for AppleTV+

Ted Lasso

Tech giant Apple has increased the subscription prices for its streaming services Apple TV+ and Apple Music in the US. International markets and some other Apple bundles are expected to see similar price increases in due course.

The move, which sees AppleTV+ rise from $4.99 to $6.99 per month, is not a surprise given the backdrop of rampant inflation in content production costs. It follows similar price increases at rival streaming services including Netflix, YouTube and Disney+.

In a statement, Apple said: “We introduced Apple TV+ at a very low price because we started with just a few shows and movies. Three years later, Apple TV+ is home to an extensive selection of award-winning and acclaimed series, films, documentaries, and kids and family entertainment from the world’s most creative storytellers.” Among the platform’s most popular and acclaimed shows are Ted Lasso and Dickinson.

Strategically, generating increased revenues from its services business is a key objective for Apple – still predominantly a hardware company. The services business, which also includes App Store sales and warranties, generated $16.9bn in Q2 2022.

The price increase also affects Apple’s all you can eat bundle Apple One, which includes Apple Music, Apple TV+, Apple Arcade, iCloud+, Apple News+, and Apple Fitness+. This bundle will increase in price by $2 a month to $16.95.