After successes likeSeveranceandThe Studio, Apple TV+ gets a price hike

Apple has announced another price increase for its Apple TV+ video-streaming service. Starting today, a new monthly subscription will cost $12.99; it was previously $9.99. Existing subscribers will see the new price take effect during their next billing cycle.

Annual plans and Apple TV+'s inclusion in Apple One at current pricing will remain unchanged.

The price of Apple TV+ has practically doubled since its launch a few years ago. There are many reasons for this.

When a streaming service first launches, it is usually priced lower to attract more subscribers while it builds up an audience and a library of content.

Further, the business realities for streamers have changed in the past few years. Content costs are enormous, and they've only gone up, with the cost of labor increasing following strikes and other factors. Competition has risen, so each streamer is fighting for a smaller piece of the total pie. There's also inflation, of course. And most of all, for publicly traded companies, investors have shifted from demanding more subscribers to demanding an increase in revenue due to wider market factors.