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Apple is taking a cue from a few of its opponents.
The expertise big’s Apple TV+ month-to-month subscription is now $12.99, beginning Thursday in the U.S. and different nations.
Apple mentioned the brand new value will hit present subscribers 30 days after their subsequent renewal date. The annual subscription value won’t change.
For new subscribers, the $12.99 month-to-month value begins after a seven-day trial interval.
The change marks Apple’s first value hike for its streaming service since 2023. At the time, Apple lifted its month-to-month value to about $9.99 from $6.99. The firm raised the worth in 2022 from $4.99.
Apple TV+ is without doubt one of the firm’s hottest companies, however Apple doesn’t launch viewership numbers. A report from The Information earlier this 12 months mentioned the streaming service is shedding greater than $1 billion yearly as subscriptions rocketed towards 45 million, citing folks conversant in the matter.
Apple is not the one streaming firm mountain climbing costs this 12 months to both fund new content material or reap returns on their investments. Earlier this 12 months, each Netflix and NBCUniversal’s Peacock boosted costs. Music streaming platform Spotify additionally raised prices in a number of markets.
Earlier this 12 months, Apple launched its streaming service to Android phones in a transfer that would open the corporate to extra folks worldwide.
The firm is contemporary off the discharge of its highest-grossing theatrical movie, “F1: The Movie.”
Disclosure: Comcast owns NBCUniversal, the mother or father firm of CNBC.