Apple Inc. is joining other streaming brands like Netflix, Disney, and Hulu in raising its monthly subscription prices. The price increase will affect the company's TV streaming service, Apple TV+, as well as its video game service, Apple Arcade, and Apple News+. The new prices will go into effect on Wednesday.

The monthly price of Apple TV+ will be raised to $9.99 from $6.99, while Apple Arcade will increase to $6.99 from $4.99. Similarly, Apple News+ will see a price increase to $12.99 from $9.99. These changes will impact customers in the U.S. and select international markets.

This announcement follows the trend of various subscription services raising prices in 2023. Max, Hulu, Disney, Netflix, and Paramount all increased the prices of their ad-free tiers and introduced lower-cost ad-supported options. However, Apple TV+ currently does not offer an ad-supported subscription tier.

Despite this news, shares of Apple Inc. dropped 1.05% during Wednesday afternoon's trading session. However, the company's shares have shown a year-to-date increase of 32.09% in 2023.

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