Apple TV+ price jumps 30% to $12.99 monthly

Apple has announced a significant increase to its Apple TV+ streaming service, raising the monthly subscription fee to $12.99. This adjustment marks a steep 30% jump from the previous rate of $9.99. New customers will see this updated price in effect starting Thursday, while existing subscribers will experience the change 30 days following their next renewal date. Interestingly, the annual subscription fee remains steady at $99.99, and the pricing for the Apple One bundle, which includes multiple services, continues to start at $19.95 per month. This price hike reflects a broader trend in the streaming industry, where subscription fees have been on the rise. In 2023 alone, Apple previously raised its Apple TV+ monthly rate from $6.99 to $9.99, making this the third increase since the service's launch in 2019, when it debuted at just $4.99 per month. This latest increase comes in light of reports revealing that Apple is currently facing substantial losses exceeding $1 billion annually on its streaming service, positioning it as the sole unprofitable entity within Apple's extensive portfolio. Despite Apple TV+ achieving remarkable accolades, including a record-breaking 81 Emmy Award nominations last month, it continues to struggle with subscriber growth, lagging behind major competitors like Netflix, Disney+, and Amazon Prime Video. The critically acclaimed thriller series Severance has notably emerged as the most-nominated series of the year, yet challenges remain for Apple TV+ to boost its market presence.