Apple just raised the prices of its subscription services including Apple TV+, Arcade gaming, and News+ which will generate more revenue for the company.
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Apple TV+ Cost Doubles
The Apple TV+ cost jumped to $9.99 from $6.99 per month with the annual price now costing $99 from $69. Meanwhile, Arcade is now priced at $6.99 from $4.99 and News to $12.99 from $9.99 monthly.
The price of the TV+ has officially doubled since it launched in 2019. However, this is only the second price increase in its history with the original price starting at $4.99.
"Since launching four years ago, Apple TV+ has made history for streaming services by crossing major milestones in a short period, thanks to its extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment," Apple wrote in a statement.
Apple's Price Hike Affects Other Services
The price increase is also effective on the Apple One services bundles. The basic plan, which offers access to Music, TV+, Arcade, and 50 GB of iCloud storage is now priced at $19.95 from $16.95. Meanwhile, the family plan that comes with 200 GB storage is now at $25.95. The premier plan with News+, Fitness+, and 2TB of iCloud Plus storage is now at $37.95.
In a statement to The Verge, Apple spokesperson Bernadette Simpao shared that the existing subscribers will experience the new price charges 30 days later, on their renewal date. Revenue from subscription services like iCloud and Apple TV+ proved to be the company's fuel for revenue.
Apple also confirmed that it will also raise prices for the international market. The company officially joined other streaming platforms' price increases over the past months.
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