Competitors like Netflix and Peacock also increased their subscription prices this year, a trend we've seen in streaming TV in the past three years. With this $3 price hike, the ad-free Apple TV Plus costs the same as Paramount Plus' premium plan, but slightly less than rival, ad-free versions of Netflix, HBO Max, Hulu and Peacock.

Apple TV+ last increased its price in 2023 when $6.99 to $9.99. This news comes just months after The Information reported Apple is losing $1 billion a year on Apple TV+.

Apple TV+ is getting a price hike, and it's a pretty big one. The monthly subscription for Apple's streaming service is now $12.99, a $3 jump from its previous price of $9.99. The price increase is effective immediately for all new customers.