Apple TV+ Follows Disney+, Netflix, and Raises Streaming Prices

in Television

Disney+, Netflix, and Apple TV+ logos combined against a black background

Credit: Inside the Magic

Apple TV+ is taking a cue from the other major streaming services and raising its subscription price.

The streaming wars are currently at an unprecedented fever pitch, as major platforms like Netflix, Disney+, Amazon Prime Video, Max, Hulu, and all the rest struggle to constantly continue to add subscribers from a rapidly diminishing base.

Disney+ and Netflix logos side by side
Credit: Inside the Magic

In large part, this has to do with simple logistics. By 2023, streaming content is no longer the novelty it was when YouTube and Netflix first exploded the market. A majority of consumers around the world already have subscriptions to streaming services, and there is a widespread feeling that the concept is increasingly at least as expensive and onerous as cable television.

However, the nature of huge companies like Apple, Disney, and Netflix is that shareholders demand increasing profits every financial quarter, which means more and more subscribers; in essence, not constantly increasing the profit margin means losing profits, which means losing stock prices.

In response, pretty much every streaming service is abruptly increasing prices, apparently hoping that consumers will just go along with it.

Max Logo with Mickey Mouse laughing
Credit: Inside the Magic

Related: “Evil” Price Hikes Prompt Wave of Cancelled Disney+, Hulu Subscriptions

Apple TV+ is increasing its monthly subscription price from $6.99 to $9.99  and the annual price from $69.00 to $99.00 (per Deadline). Both price hikes are a nearly 43% increase.

Apple TV+ was launched in 2019 with a $4.99 monthly price tag, and bumped up to $6.99 about a year ago. Along with its streaming television service price hike, Apple News+ will go from $12.99 from $9.99, Apple Arcade goes $4.99 to $6.99, and Apple One bundled packages are increasing at similar rates. All price increases are immediate.

Ted Lasso cast standing in row
Credit: Apple TV

While Apple TV+ is still one of the lower-priced premium streaming services, it also has a much smaller catalog of content compared to Disney+, Netflix, or Max. Thus far, the company has focused on highly acclaimed TV shows like Ted Lasso and The Morning Show and prestige films like Coda, the 2022 Best Picture Academy Award winner.

Recently, Netflix raised prices on both its premium and basic services, while virtually every major platform is experimenting with charging more for ad-free content and even interrupting streams with breaking news (much to consumer outcry).

Bob Iger with Disney+ in the background
Credit: Inside the Magic

Related: Apple TV’s ‘Silo’ Renewed as Disney Cuts Content

Apple released a statement regarding the price hike, saying, “Since launching four years ago, Apple TV+ has made history for streaming services by crossing major milestones in a short span of time, thanks to its extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment.”

It will remain to be seen whether consumers will continue to subscribe to streaming services as they increase prices, mandate ad interruptions, and remove both new and existing content. There might be a reason why broadcast television is making a comeback.

Are you willing to put up with all these price hikes for streaming content? Give us your opinions in the comments below!

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