Apple Extends Free TV+ Subscriptions Through February

Apple Inc AAPL is extending some Apple TV+ subscriptions, set to expire in the coming three months, through their billing date in February, TechCrunch reported Thursday.

What Happened: The subscriptions, valid for a year, were bundled with Apple TV+ purchases last year and were set to expire in November.

The Cupertino-based tech giant is reportedly extending the subscriptions due to the ongoing COVID-19 pandemic, which could lead to fresh lockdowns.

Subscribers, who join before Nov. 1, will get a $4.99 credit — the current monthly cost of the service — for November, December, and January, as per TechCrunch.

Why It Matters: Apple TV+ launched November last year, and the consumer electronics company has been constantly looking to improve the content to match rivals like Netflix, Inc NFLX, Amazon.com Inc's AMZN Prime Video, and the Walt Disney Company's DIS Disney+.

Current programming includes shows such as “Oprah’s Book Club” and Jennifer Aniston’s “The Morning Show.”

Price Action: Apple shares traded 0.26% higher at $115.27 in the after-hours session on Thursday and closed mostly unchanged.