Coming soon to Apple TV+: Bidenflation.
Apple is jacking up the prices for its streaming TV service, with the cost of a subscription skyrocketing more than 40 percent any way you cut it.
The price of a monthly Apple TV+ subscription is rising from $6.99 to $9.99, while a yearly subscription is climbing from $69 to $99.
Exactly a year ago, Apple raised the price of a monthly subscription from $4.99 to $6.99, meaning the price has doubled in about a year’s time.
Consumers can expect to see the new prices on their next billing date.
Apple’s price hikes are the latest to hit the streaming entertainment industry with competitors Disney+, Netflix, and Amazon Prime Video all sticking it to consumers in recent months.
But unlike the competition, Apple has yet to announce an ad-supported option for consumers.
The industry-wide price increases have been dubbed “streamflation.”
The average cost of watching a major ad-free streaming service is going up by nearly 25 percent in a year, according to a Wall Street Journal analysis published in August. Streamers are betting that customers are either willing to pay more or will switch to a lower-cost ad-supported tier, which is more profitable for the streamer.
Apple Music prices are also going up across the board, with the cost of an annual plan rising 10 percent to $109 per year.
In addition, Apple Arcade and Apple News+ will each go up by $2 and $3, respectively, to $6.99 and $12.99 per month.
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