Apple raises prices for its streaming services

(NEXSTAR) – Yet another subscription service is getting more expensive this year as Apple raises the prices on its streaming platforms.

Higher prices for Apple Music, Apple TV+, and its bundle Apple One rolled out on Monday, according to CNBC.

Apple TV+, which previously cost $4.99 a month, now costs $6.99 a month. For Apple Music, an individual subscription will now cost you $10.99 per month, up $1 from the previous price.

The price increase for Apple Music is in response to “an increase in licensing costs” and to support “innovative features,” Apple said in a statement to CNBC.

If you use Apple One, which gives you access to additional storage and the Arcade gaming service, you’ll now be paying $16.95 per month instead of $14.95 per month.

Apple TV+ is one of the cheaper streaming platforms available, along with NBC’s Peacock and Discovery+, which have plans starting at $4.99.

Earlier this year, Netflix raised its monthly subscription prices across all plans by $1 or $2, with the most affordable plan now $9.99. This will change next month when Netflix introduces its ad-supported plan.

Disney announced price hikes for its streaming platforms earlier this year. Disney+ will become more expensive in December when it adds its ad-supported plan. ESPN+ and Hulu price increases rolled out in August and October, respectively.

In February, Amazon Prime’s annual cost jumped, impacting streaming through its platform.