Apple Raising Apple TV+ Price by 40%; Apple Music, Apple One Also Getting Price Hikes
It’s about to get more expensive to watch shows like “Severance” and “Ted Lasso,” according to 9to5Mac.
Apple announced that, starting Monday, Oct. 24, it is increasing the cost of a subscription to Apple TV+ and Apple Music. Applet TV+ is increasing $2 (40%) per month to $6.99. The annual plan will also go up from $49 to $69 according to The Hollywood Reporter.
Apple Music subscriptions will increase to $10.99 per month for individuals and $16.99 per month for the family plan. Apple One — the company’s all‑in‑one subscription that bundles up to six Apple services — is increasing as well.
Individual plans are going from $14.95 to $16.95 per month, family plans will now cost $22.95 per month, and the Premier tier will now be $29.95 per month.
“The subscription prices for Apple Music, Apple TV+, and Apple One will increase beginning today,” Apple spokesperson 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 broadly acclaimed series, feature films, documentaries, and kids and family entertainment from the world’s most creative storytellers.”
Usually, such price increases are well-known in the industry before they arrive, but Apple caught the market by surprise today with the announcement. The tech company is likely attempting to avoid subscriber churn by not giving them forewarning of their imminent price increases.
On the other hand, the move could signify that a cheaper, ad-supported tier of Apple TV+ is closer than previously thought. Earlier this month, reports began circulating that representatives from Apple had been meeting with advertising agencies about the possibility of incorporating more commercials into Apple TV+. Those representatives have included Apple’s vice president of ad platforms Todd Teresi, which suggests that the company is ready to move forward on a possible ad-supported tier quickly.
One ad agency executive said that Teresi “made it very clear that Apple will do nothing unless one, there’s a significant opportunity, and two, they would never do anything to jeopardize the relationship they have with their consumers.”
It remains to be seen what backlash there will be from those consumers regarding this week’s price increases, but Apple is committed to moving forward. The increase in subscription price might also signal that a deal between Apple and the NFL for the league’s out-of-market games package NFL Sunday Ticket is near. Negotiations have been hitting some rough patches lately, but a subscription price increase could mean Apple is looking to raise revenue to help finance the deal.
Apple also recently released a new generation of Apple TV 4K streaming devices. The streaming industry will be watching closely to see if these moves are just one-off events or potentially the prelude to something bigger.
Apple TV+
Apple TV+ is a subscription video streaming service for $9.99 a month that includes high-quality original shows and movies including Best Picture winner “CODA,” popular sitcom “Ted Lasso,” and dramas like “The Morning Show” and “Severance.” Apple TV+ is also home to MLB baseball games on Friday nights and MLS Season Pass.