Apple is raising the price of a subscription to its Apple TV+ streaming service for U.S. customers.

The technology giant said Thursday that an Apple TV+ subscription will now cost $12.99 a month, up from $9.99. The annual cost for Apple TV+ will remain $99.99.

The new pricing takes effect for new subscribers on Aug. 21, while existing customers will see the change 30 days after their next service renewal date. 

Apple's original content includes programs like "The Morning Show," and "Severance." The company last hiked Apple TV+ prices in October 2023, when a monthly subscription rose from $6.99 to $9.99 in the U.S. 

The move comes after both Netflix and NBCUniversal's Peacock streaming service also raised their prices earlier this year.  In January, Netflix boosted the cost of a standard plan with ads from $6.99 to $7.99 a month. Peacock in July raised its subscription rates by $3, increasing the cost of a Premium Plus plan to $16.99 per month.