Apple raises subscription prices of Apple TV+ and Apple News+ streaming services
Apple has raised the subscription prices for its Apple TV+ and Apple News+ streaming services, the company announced on its website on Tuesday. The price of Apple TV+ which was from $6.99 per month, was increased to $9.99 per month, while Apple News+ increased from $9.99 a month ago to $12.99 per month.
Apple said that the price changes are critical for the company to sustain the growth and enhancement of its streaming services. The additional revenue generated will be channeled into investments for fresh content and subscriber features.
This decision comes at a time when the streaming industry is witnessing escalating competition from rivals like Netflix, Disney+, and HBO Max. Apple aims to leverage these higher prices to attract and retain subscribers, especially as consumers become more selective in their choice of streaming services.
Some analysts speculate that the price adjustments might also serve to counter the impact of inflation, though Apple hasn’t explicitly cited this as the reason.
The revised pricing applies immediately for new subscribers, whereas existing subscribers will experience the price change at the commencement of their next billing cycle.
Below is a summary of the price changes:
- Apple TV+: $6.99/month → $9.99/month
- Apple News+: $9.99/month → $12.99/month
Apple’s streaming services, although relatively new, have been gaining popularity in recent years. Apple TV+ has garnered awards for its original content, while Apple News+ is known for its high-quality journalism and curated material.
It remains to be seen how consumers will respond to these price adjustments. Some may be willing to pay the increased fees, while others might opt to cancel their subscriptions or switch to more cost-effective alternatives.