By Mark Gurman
October 26, 2023 — 6.14am
Apple has raised prices of its TV+, Arcade gaming and News+ subscriptions on Thursday, following similar moves by other content providers, as the iPhone maker looks to generate more revenue from services.
In Australia, the company increased the cost of its TV+ streaming service to $13 from $10 a month. Arcade climbed to $8 from $10, and News went to $15 from $20. Prices were also raised in the US and other markets.
Invasion, on Apple TV+. The cost of the service is going up by $3 per month in Australia.
The TV+ price increase is only the second in its four-year history. It was originally offered at $8 a month when it launched in 2019.
Apple, which gets about 20 per cent of revenue from its services division, is aiming to become a go-to hub for streaming content. Reports earlier this week indicated the company is redesigning its TV app to consolidate its various video offerings later this year.
The TV 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 app, which sits at the centre of its expanding video strategy.
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The price changes follow moves by Netflix and others to raise prices for their subscription services. Companies such as Netflix, Amazon and Disney have also introduced tiered ad-supported offerings. Earlier this week in Australia, Netflix dropped its $11 per month basic offering, leaving only the $7 ad-supported tier, the $17 standard or $23 premium.
In the US, Apple remains the sole major streaming platform not to have ads. It’s also still the least-expensive among the major providers.
Over the past several months, Apple TV+ has expanded its content selection, which includes big-budget movies like the just-released Killers of the Flower Moon from director Martin Scorsese.
The company has also widened the selection of games in Apple Arcade, which offers subscribers access to more than 200 titles that can be played on the iPhone or iPad, in addition to Mac computers and Apple TV. News+ offers a library of more than 450 publications as well as narrated audio articles.
As a result of the individual plan increases, the Apple One services bundle is also going up, though the price of Apple Music is staying steady.
Bloomberg, with staff writers
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