Apple TV+ announced it will be increasing the price of its monthly subscription by 30%, effective immediately. Variety reports the streamer will now cost subscribers $12.99 a month, an increase of $3 from $9.99. The price increase will affect subscribers in the United States and select other countries beginning Aug. 21. The new price will be reflected for existing subscribers upon renewal. In a statement, Apple highlighted its growing, critically acclaimed library of original content, all offered on a streaming platform that has remain ad-free for all subscribers. “Since it launch, Apple TV+ has expanded its deep library of hundreds of Apple Originals, with thousands of hours of premium programming across genres and brand-new releases weekly — all ad-free,” the company said in a statement. “Subscribers can explore a rich offering of thrilling dramas, epic sci-fi, feel-good comedies and live sports.” And there is still more to come. According to Variety, the company noted the price increase comes ahead of a stacked fall schedule that will see the return of The Morning Show and Slow Horses, amongst several other titles. 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 reportedly spent $5 billion a year on producing original content since 2019, until it trimmed that by about half a billion dollars last year to $4.5 billion. The report notes the streamer has 45 million subscribers, though that number has not been confirmed by Apple. But the platform’s original content is helping Apple TV+ establish itself as a hub for prestige television with instant classics like Severance and The Studio. The service also offers a library of children’s programming as well as live Major League Baseball games and Major League Soccer matches.