Apple TV Plus is getting another price hike — and it’s a big increase

(Image credit: Shutterstock)

Apple TV Plus is raising its price again, just one year after its last hike.

Last year, Apple's streaming service increased its monthly subscription fee for the first time since it launched, from $4.99 to $6.99. Now, Apple TV Plus is getting even more expensive at $9.99 per month, an increase of over 40%. The annual subscription is also going up, from $69 to $99.

The new rates are already in effect for new subscribers. For existing subscribers, the price hikes will go into effect on their next renewal date.

Streaming is getting more expensive

(L to R) Brendan Hunt as Coach Beard, Jason Sudeikis as Ted Lasso and Brett Goldstein as Roy Kent putting their hands in the middle before a game in Ted Lasso season 3 episode 12, "So Long, Farewell" — (Image credit: Apple TV Plus)

Apple TV Plus is hardly alone in raising prices. Every major streaming service has increased rates in the past two years, as the industry has experienced setbacks in subscriber growth and revenue generation. All of them have introduced multiple ways to make their streaming services profitable, including price hikes.

Netflix recently increased the cost of some of its plans. Disney Plus instituted one in early October that was previously announced. Paramount Plus and Peacock also raised their fees this year.

Netflix, Disney Plus and Max rolled out ad-supported options, while Amazon is planning to run ads on Prime Video. When that goes into effect next year, Apple TV Plus will be the only major streamer that doesn't have an ad-supported plan. But perhaps not for long — Apple may be exploring the video advertising business.

Even deep-pocketed Apple can't support a money-losing streaming service forever. Apple spends a lot of money on high-profile movies and shows, like the recent Martin Scorsese film Killers of the Flower Moon (which reportedly had a budget between $200 to $250 million). The company also plunked down a significant amount for the rights to MLS games.

Cutting the cord was supposed to be our cheap future, but it's certainly not cheap anymore.

More from Tom's Guide

Kelly is the managing editor of streaming for Tom’s Guide, so basically, she watches TV for a living. Previously, she was a freelance entertainment writer for Yahoo, Vulture, TV Guide and other outlets. When she’s not watching TV and movies for work, she’s watching them for fun, seeing live music, writing songs, knitting and gardening.