TV Answer Man, is it true that Apple TV Plus is raising its price? Why are they doing this? And does it mean that we all will pay a lot more for streaming from other streamers, too? — Cheryl, Knoxville, Tennessee.
Cheryl, Apple announced yesterday that its monthly price for Apple TV+ has increased from $4.99 a month to $6.99 a month, effective immediately for new and existing subscribers.
This is the first time that Apple has raised the price for its streaming service since its launch in 2019. The company also said the annual price for Apple TV+ is rising from $49.99 to $69.99. (The announcement also includes news that Apple is raising the price of Apple Music by $1 a month for an individual account and $2 a month for a family account.)
Apple said the price hike is necessary to offset the company’s increased investment in original programming which includes such critically acclaimed shows as Ted Lasso, WeCrashed, Severance and Bad Sisters. The tech giant has also secured the exclusive rights to MLB and MLS games and is reportedly seeking the rights to the NFL Sunday Ticket when DIRECTV’s current agreement with the league expires after this season.
“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 broadly acclaimed series, feature films, documentaries, and kids and family entertainment from the world’s most creative storytellers,” the company said.
The price increase also reflects a consensus within the streaming industry that subscriber prices must increase to offset the cost of acquiring and creating programming as well as keep pace with the highest inflation rate in 40 years. If your favorite streaming service hasn’t raised its rate recently, just wait. It’s coming.
The good news is that Apple TV+ still offers a seven-day free trial so you can sample the streamer’s shows without paying. But if you get hooked, it will cost you extra.
The Apple TV+ price increase was first reported by 9 to 5 Mac.
Cheryl, hope that helps. Happy viewing and stay safe!
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— Phillip Swann