It’s been almost exactly three years since the launch of Apple’s streaming service, Apple TV+. The app started from basically nothing; Apple did not license shows from other studios or companies and instead built their own library of originals. So far, those include acclaimed hits like Ted Lasso, For All MankindMythic Quest, and Severance and films like Joel Coen’s The Tragedy of Macbeth, the Russo brothers’ Cherry, and the Oscar winner for Best Picture in 2022, CODA. 

When Apple TV+ launched on November 1, 2019, it was included free with any new Apple hardware. For everyone else the cost (after free trial) was $4.99 a month — a pretty good price, if only in the short-term, to binge watch some of the company’s best titles.

But now the cost of Apple TV+ is going up for the first time. The Hollywood Reporter says Apple TV+ is set to jump in price to $6.99 per month. It’s an increase of 40 percent each month. If you pay per year instead of per month, the cost is now $69 a year instead of $49 a year, a nearly 30 percent increase on that rate.

Here was Apple’s statement on the news:

We introduced Apple TV+ at a very low price because we started with just a few shows and movies. Three years later, Apple TV+ is home to an extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment from the world’s most creative storytellers.

Apple is also raising the price of its Apple Music service which is going up by one dollar per month for a single plan, two dollars a month on the family plan, and ten dollars a month for the annual plan.

Apple will be using the increased subscription revenue to make projects like a live-action Godzilla series, a live-action Speed Racer show, Ridley Scott’s Napoleon, the Tetris movie, and Martin Scorsese’s Killers of the Flower Moon.

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