Apple is raising subscription prices for its Apple TV service, as streaming inflation continues to be felt across the entertainment business.
The tech giant says that Apple TV will now cost $14.99 per month, a $2 price hike, while the annual plan rises by $20 to $119.99. The price increase is effective today, with existing subscribers being given one month notice.
Apple is also raising the price of its Apple One individual plan by $2 to $21.95 per month. Apple One bundles Apple TV with Apple Music, Apple Arcade, cloud storage and other features.
Apple, like every other streaming service, has been beefing up its offering with new and returning shows (Ted Lasso just returned after a long hiatus) as well as live sports, with Apple recently acquiring the rights to Formula 1 in the U.S.
Apple TV has differentiated itself from other streamers by focusing on ultra-premium originals, largely forgoing library content. Its shows include comedy The Studio, this year’s most-Emmy nominated freshman series Widow’s Bay, Severance, Pluribus and Shrinking.
Earlier this month Peacock raised its pricing ahead of the return of the NBA and NFL seasons, and ESPN is raising its streaming prices next month. Prime Video, Netflix and YouTube Premium have also hiked prices this year.
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