Apple raises prices of TV+ to $9.99 from $6.99 per month

financialexpress.com:

Apple raised prices of its TV+, Arcade gaming and News+ subscriptions on Wednesday, following similar moves by other content providers, as the iPhone maker looks to generate more revenue from services.

The company increased the cost of its TV+ streaming service to $9.99 from $6.99 a month. Arcade climbed to $6.99 from $4.99, and News went to $12.99 from $9.99. The changes apply to the US and some international markets.

The TV+ price increase is only the second in its four-year history. It was originally offered at $4.99 when it launched in 2019. The annual price of TV+ is moving to $99 from $69. Currently, some people get TV+ for free through deals with mobile phone carriers, such as T-Mobile USA.

“Since launching four years ago, Apple TV+ has made history for streaming services by crossing major milestones in a short span of time, thanks to its extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment,” Apple said in a statement.

Apple, which gets about 20% of revenue from its services division, is aiming to become a go-to hub for streaming content. The company is redesigning its TV app to consolidate its various video offerings later this year, Bloomberg has reported.

The app aggregates content from iTunes, the TV+ service, live sports networks and third-party offerings like Amazon Prime. Apple is aiming to steer more customers toward the TV app, which sits at the center of its expanding video strategy.

The changes follow moves by Netflix and others to raise prices for their subscription services. Companies such as Netflix, Amazon.com and Disney have also introduced tiered ad-supported offerings.

Apple remains the sole major streaming platform not