Apple TV+ hikes monthly subscription price for Apple users

Core Points - Apple is increasing the monthly subscription cost of Apple TV+ by $3, bringing it to $12.99 per month for new U.S. subscribers and certain international markets, marking the first price increase in nearly two years [1][5] - Existing customers will see this increase applied to their bills 30 days after their next renewal date [1] - The annual subscription price for Apple TV+ remains unchanged, as does the cost of the Apple One bundled subscription service [2] Subscriber and Market Position - Apple TV+ has approximately 40 million subscribers projected by the end of 2024, which is significantly lower than competitors like Netflix, which has over 300 million subscribers [3][5] - The service has expanded its library with hundreds of exclusive Apple Originals and thousands of hours of programming, with new releases weekly [2] - Apple is reportedly losing over $1 billion annually on Apple TV+ [5] Competitive Landscape - The price increase for Apple TV+ follows a similar move by Peacock, which raised its premium plans by $3 in July [6] - Apple has made efforts to boost subscriber numbers by expanding its streaming service to Android phones earlier this year [5]