Apple TV+, known for psychological thriller "Severance" and other popular original shows like "Ted Lasso" and "The Morning Show," will raise its monthly subscription price by $3 starting Aug. 21.

New subscribers in the United States will have to pay $12.99 per month, up from $9.99, for the streaming service, Reuters reported, citing a statement from Apple. The annual subscription price will stay the same, costing $99 per year.

In March, The Information reported that Apple, whose stock ticker is AAPL.O, is losing more than $1 billion a year on its streaming service. Apple has spent more than $5 billion a year on content since launching Apple TV+ in 2019, but decreased spending by around $500 million in 2024, according to thetechnology industry-focused outlet.

How many people are subscribed to Apple TV+?

Apple does not publicly share its total number of subscribers. According to five analysts polled by Visible Alpha, Apple reached 40.4 million at the end of 2024.

Netflix had more than 300 million paid memberships at the end of 2024, Business Insider reported. About 228 million people subscribed to Disney streaming platforms in March 2024.

When did Apple last increase subscription prices?

Apple has increased the subscription price of Apple TV+ three times since launching the streaming service in November 2019. The original price was $4.99 per month, increasing to $6.99 per month in October 2022 and then to $9.99 per month in October 2023.

Contributing: Reuters

This article originally appeared on USA TODAY: Apple TV+ raises monthly subscription price: See how much it costs

Reporting by Sara Chernikoff, USA TODAY / USA TODAY

USA TODAY Network via Reuters Connect