Why it matters: Apple may be the latest company to feel the market and economic pressures that have recently pushed other companies to raise prices or offer new subscription plans. However, a newly introduced Apple TV+ subscription price compares favorably against other streaming services.
Apple Music and Apple TV+ subscribers will see their subscription prices increase by $1 or $2 starting Monday, while the Apple One bundle jumps to $3. No other Apple subscriptions have hiked their prices so far.
The company's music subscription service now costs $10.99 per month for an individual (previously $9.99), while the new family plan price is $16.99 (up from $14.99). The annual subscription rate is now $109 (formerly $99). An Apple spokesperson confirmed the rise is due to increasing licensing costs.
Additionally, Apple TV+ has a new monthly price of $6.99 (originally $4.99) with a $69 annual subscription option (previously $49.99). Apple says it thinks the content it has added to the service over the last three years has increased its value.
When Apple launched Apple TV+, it generously let anyone who purchased new Apple hardware try the service for free for a year. The tactic made sense when it initially didn't have much content compared to Netflix or Hulu. Today, Apple TV+ subscribers get MLB games and series like For All Mankind, Severance, WeCrashed, and the award-winning Ted Lasso. New Apple device owners now only get three months free.
For users interested in those programs or any other original programming, $7 a month is a good deal compared to most of the competition, especially considering it includes 4K HDR streaming and no ads. Netflix recently launched an ad-supported plan for the same price that limits viewers to 720p, locking 4K HDR behind a $20 monthly subscription. Paramount Plus has a $5 ad tier that doesn't include 4K, while HBO Max has a similar plan that costs $10.
Apple TV+'s new plan is closest to Disney+ regarding price, features, and content. Disney+ is $8 with 4K HDR and no ads, while Hulu includes 4K HDR for only $7 with ads.
Apple One is also getting a price bump. Subscriptions are now $16.95, a $2 increase. The service bundles Apple Music, Apple TV+, Apple Arcade, and iCloud+. The family plan goes to $22.95, which is $3 more. Finally, the Premier tier, which adds Apple News+ and Apple Fitness+, increases to $32.95, up from $29.95.
The company hasn't changed the prices for its other standalone subscriptions. Its iCloud+ service is still $.099 a month for 50GB, $2.99 a month for 200GB, and $9.99 a month for 2TB. Apple Arcade retains its $5 monthly subscription, while Apple News+ and Fitness+ remain at $9.99.