At a March 2015 media event, Apple CEO Tim Cook announced a price reduction for the Apple TV. The third-generation Apple TV was discounted from $99 to $69. This price drop coincided with the announcement of HBO Now for the device. Cook stated the company wanted to make the set-top box more accessible. The audience responded positively to the news with cheers. Apple continued to sell the third-generation Apple TV at this lower price until October 2016. Adjusted for inflation, the 2015 price of $69 is equivalent to less than $99 today. The original $99 price from 2015 represents approximately $137 in today's currency. This makes the 2015 price significantly cheaper than the current Apple TV 4K hardware. Even the new Siri Remote alone costs $59, nearing the 2015 price of a complete Apple TV.