The CEO says the Apple TV + price increase is a reflection of more content

Apple CEO Tim Cook spoke about the recent increase in subscriptions to the company’s streaming service, Apple TV +. According to him, the adjustment is the result of the increase in the number of products offered by the service.

“If you look when we first priced it, we only had a few series. We were at the beginning. We were very focused only on the originals and so we had four or five series and the price was pretty low,” Cook said on a video call with shareholders. “We now have a lot of content and are releasing more each month. So we raised the price to represent the value of the service.”

The Apple TV + subscription will go from $ 4.99 to $ 6.99 per month in the US, a 40% increase from the original price. In Brazil, the value went from R $ 9.90 to R $ 14.90.

Apple TV + got its content this year with the Oscar win for “The Rhythm of the Heart” – a film that was exclusive to the streaming service in the US only – and with the second consecutive award of “Ted Lasso. “for Best TV Comedy Series at the Emmys.

Cook also noted the “enthusiasm and strong involvement” of subscribers to the service. According to him, “Apple TV + hits like ‘Rupture’, ‘Bad Sisters’ and ‘Black Bird’ have taken center stage around the world. And baseball fans have been glued to their seats this season watching. ‘Friday Night Baseball’ .. “.

In addition, the company’s chief financial officer, Luca Maestri, highlighted Apple’s global partnerships with major football leagues. Starting next season, fans will be able to stream all Major League Soccer matches via the Apple TV app.

Apple does not disclose subscription numbers for any of its services, which include cloud storage, payments, and other activities. Maestri said the total number is over 900 million, an increase from 155 million in the last 12 months and double the number three years ago. Apple TV + would have between 20 and 40 million subscribers.

It is worth noting that it is not just the Apple TV + that is raising prices. Other business services, such as Apple Music and Apple One, will also undergo readjustments.

“The cost of licensing has risen and that’s why we’re paying more for the music. The good thing is that artists will also get more money for their music they like to stream,” explained Cook.

In all, Apple Services posted revenue of $ 19.1 billion in the fourth quarter and $ 78.1 billion for the year. Products like the iPhone, Mac, iPad, among others, generated $ 71 billion in sales in the quarter and $ 316 billion in the year.

Therefore, unlike the big tech competitors, the company celebrated a good profit in the quarter.

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Source: Terra

Camila

Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.