Apple raises price of Apple TV+ to $9.99 a month

Apple on Wednesday raised the prices for a number of its flagship services offerings, including Apple TV+, Arcade, and its bundled offering, Apple One. The move follows prior price hikes in October 2022.

Apple TV+ will now cost $9.99 a month, up from $6.99. The price increase comes after Apple upped the price in 2022 from $4.99. The annual package will now cost $99, up from $69.

Apple One, the bundle package used by many families to access Apple's services at a lower price will also increase, with the top end Premier package now costing $37.95 a month.

Apple's Arcade and News+ monthly prices are also increasing, to $6.99 and $12.99 respectively.

All these products form a part of Apple's services business. The segment generated $21.21 billion in revenue during Apple's fiscal third quarter, making it Apple's second largest business behind the iPhone, which generated $39.76 billion during the same time period.

The business is extremely profitable, and important for investors because it signals how Apple is monetizing its active base of 2 billion devices by selling them subscriptions, streaming TV, warranties, advertising, payment services, and other products included in the category.

The price increases mirror those made by other major media players, including Disney and Netflix.

Apple did not immediately respond to a request for comment on when the changes would roll out to existing customers.

CNBC's Kif Leswing contributed to this report.

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