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Sometimes even $2.65 trillion companies will shake you down for a few more streaming bucks.

Apple joined its fellow industry players in the streaming industry on Wednesday, saying it will increase the price of Apple TV+ to $9.99 a month from $6.99. Similar price hikes are hitting the hardware giant's other subscription services.

Apples to Oranges

Apple launched its streaming service in November 2019 at $4.99 per month -- the cheapest among the major players, and a tacit admission that it lacked the deep catalog of old movies and shows that century-old media conglomerates could offer. As streaming's profit potential has come into doubt, Apple still has one advantage: the service is a pittance of its overall business.

But Apple has emphasized quality over quantity, and a recent Parrot Analytics report said, demand for the company's original programming ranked third behind Amazon and Netflix. And quality comes at a cost: One Barclay's analyst told Barron's earlier this year that it's likely losing billions on the service each year (Apple doesn't disclose financials for Apple TV+).

Which may be why Apple, like the rest of the industry, is thinking maybe they'll charge you a little more:

  • Netflix raised the price of its basic ad-free plan earlier this month to $11.99 per month, and its premium plan to $22.99 per month. Disney also bumped the monthly price of ad-free plans for Disney+ and Hulu up to $14 and $18, respectively.
  • Meanwhile HBOMax, Paramount Plus, and Peacock all raised prices earlier this summer. The (mostly) ad-free Apple TV+ is offered at the low end for ad-free streaming platforms, but a couple bucks higher than most others' ad-supported tiers.

At Your Service: Apple also raised the price for Apple Arcade to $6.99 per month, and Apple News Plus is increasing to $12.99 per month. In its latest earnings report, Apple said its Services unit, which includes these platforms as well as Apple Music, Apple Pay and Apple Car, iCloud, warranties, and licensing fees, generated $21.2 billion in revenue, and was its most profitable division. Consider it a hedge against slowing hardware sales. Even for the Mac-maker, content is king.