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Apple is raising the monthly cost of Apple TV+ by $3, marking the streaming service’s first price increase in nearly two years.
Starting Thursday, Apple TV+ will cost $12.99 a month, up from $9.99, for new U.S. subscribers and certain international markets.
Existing customers will see the increase to their bills 30 days after their next renewal date, according to the company.
The price of the annual subscription for Apple TV+ remains the same, as does the cost of Apple One – a bundled subscription service that brings together several services including Apple TV+, Apple Arcade and more.
The tech giant most recently raised the price of Apple TV+ in October 2023.
“Since its launch, Apple TV+ has expanded its deep library of hundreds of exclusive Apple Originals, with thousands of hours of premium programming across genres and brand-new releases weekly – all ad-free,” Apple said.
While Apple TV+ hosts popular shows such as “Severance” and “Ted Lasso,” the streaming service has trailed competitors like Netflix and Disney+ in subscriber numbers, Reuters reported.
Apple TV+ is estimated to have reached around 40 million subscribers by the end of 2024, according to a Visible Alpha poll of five analysts.
Meanwhile, Netflix had more than 300 million in the same time period, Reuters reported.
The iPhone maker is losing over $1 billion annually on Apple TV+, The Information reported in March.
In a move to boost subscribers, Apple expanded its streaming service to Android phones earlier this year, Bloomberg News reported.
Peacock similarly raised the cost by $3 of its premium plus plans and ad-supported plans in July.