Apple TV+ subscription price increased by 30%, surpassing Apple Music cost

in effect depressing prices for premium tiers. This is why some in the music industry, like Sony Music Group Chairman Rob Stringer, have suggested that ad-supported tiers should charge at least a small fee to close the gap between free and paid services.

Apple TV+ has gained a reputation for its high-quality TV shows, including hits like Severance, The Morning Show, and Slow Horses. Despite critical acclaim, the service has struggled to achieve commercial success. Reports indicate that Apple TV+ is losing over $1 billion annually, leading Apple to reduce its annual budget by $500 million. Even with around 45 million subscribers as of 2024, Apple TV+ only makes up about 1% of viewing streaming hours in the US, compared to Netflix’s 8.2%.

In a constantly evolving streaming landscape, Apple TV+ joining other services in raising prices highlights the changing dynamics of the industry. As more streaming platforms realize the true cost of quality content, consumers may need to reassess how they prioritize their entertainment subscriptions.