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Apple Raises TV Streaming Price to $9.99

The iPhone maker is the latest company to raise prices on streaming services.
A scene from Apple TV+ show ‘Ted Lasso.’ PHOTO: COLIN HUTTON/ASSOCIATED PRESS

A scene from Apple TV+ show ‘Ted Lasso.’ PHOTO: COLIN HUTTON/ASSOCIATED PRESS

Apple AAPL -1.15%decrease; red down pointing triangle is raising the monthly price of its TV streaming service to $9.99, joining NetflixDisney and other companies that have recently increased prices

The iPhone maker is increasing the monthly cost of Apple TV+ by $3, or more than 40%. It is also raising prices for its videogame service Apple Arcade, Apple News+ and its bundle package, Apple One.

The new prices are effective Wednesday in the U.S. and some other markets, Apple said.

Entertainment companies have raised prices for ad-free streaming services by an average of about 25% over the past year or so, according to a Wall Street Journal analysis.

Streaming companies are pushing for more revenue after racking up billions of dollars of losses. The higher costs risk alienating customers who could cancel their subscriptions.

Netflix raised prices on its ad-free plan last week, following increases last year. Disney raised the price on ad-free versions of Disney+ and Hulu in August by more than 20% each. Max, formerly HBO Max, also introduced higher prices this year. Amazon Prime customers in the U.S. will have to pay an additional fee next year to watch the streaming service without ads.

Apple’s subscription business has developed into one the company’s biggest strengths. Revenue from its services unit reached an all-time high of $21 billion in the quarter ended in July, driven by more than one billion paid subscriptions to services including music and TV.

Apple raised the monthly subscription cost of Apple Arcade from $4.99 to $6.99. Apple News+ will now cost $12.99, up by $3.

Apple One, the bundle of services, will rise to $19.95 from $16.95 for an individual subscriber.

Write to Joseph De Avila at joseph.deavila@wsj.com

Author: Editors Desk

Source: WSJ:

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