Apple TV+ hikes its subscription costs for the FIRST time to $6.99 a month

Apple has increased the cost of its television streaming service Apple TV+ for the first time since its launch in 2019 because the catalogue has grown extensively, the company has said.

The cost of Apple TV+ will jump by almost 50 percent from $4.99 to $6.99 per month and similarly the annual plan will go from being  $49 to $69 a year.

Apple also recently increased the cost of its music streaming platform Apple Music by $1 to $10.99 a month for a single user.

Price hikes to streaming services are also being implemented by other providers. 

This year Netflix, Disney+ and Hulu all raised their monthly subscription prices. Netflix and Hulu both raised prices by $1 per month, while Disney+ is up by $3.

The cost of Apple TV+ will jump by almost 50 per cent from $4.99 to $6.99 per month

The price will go up in order to reflect the streaming service’s extensive and diverse range of programs, Apple said in a statement

The price will go up in order to reflect the streaming service’s extensive and diverse range of programs, Apple said in a statement to the Hollywood Reporter:

‘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.’

Apple has similarly justified the increase to the cost Apple Music as being ‘due to an increase in licensing costs.’

They have said that in turn, artists will be paid for more for the streaming of their music.

Apple TV+ currently offers dozens of original titles, including the 2022 Oscar best picture winner CODA.

Also popular is Emmy-winning series Ted Lasso series and Shantaram, based on the bestselling novel.

Ted Lasso was a success story for Apple TV+ and was one of the platform’s first exclusive series

In response to the price hikes many streaming services are now opting to introduce cheaper plans that allow subscribers to watch the same shows with advertisements. 

Netflix announced its a-supported plan earlier in the year and Disney+ will launch a similar tier in December.