How new? New to you but older, or new as in unused from a store?
If you have an Apple TV (2nd or 3rd generation) and two-factor authentication for your Apple ID, then you may be asked to type your password followed by the six-digit verification code directly into the password field. Additionally, there is a time limit, after which the code becomes invalid.
Try this: First enter the characters of your password (do not submit yet), then manually request a new verification code, then append that code to the password (no spaces or other separating characters), and then submit. That should help you get passed the time limit.
If you have an Apple TV (4th generation or later), then the above does not apply, as the verification code would be asked for separately.