Apple has increased the price of its music streaming and TV streaming subscription services. The increase in cost is a first for the iPhone maker which has mostly always kept the price of its services lower compared to the competition. Apple Music is now priced at $10.99 (USD) per month and Apple TV+ costs $6.99 from $9.99 and $4.99 respectively.
It is important to note that the price of Apple TV+ is still much cheaper compared to the options from Netflix, HBO, and more. The collection of Apple TV+ is nowhere close to the competition but Apple has been focusing more on building its own content (exclusives). On the other hand, Apple Music is now slightly expensive compared to Spotify which continues to offer its services at $9.99. However, Apple offers hi-resolution lossless music (upto 24 bit at 192 kHz) without any additional charges at $10.99 whereas Spotify is believed to charge higher when it releases lossless music feature.
Increased charge for the Apple One bundles
The price of the Apple One bundle has also increased by $2 to $16.95 (USD) from the previous fee of $14.95 (USD). The iPhone maker is betting big on generating revenue from its services offerings, as it has been noted that people are upgrading their phones less often. Also, the services industry is on the growth trajectory and Apple is ensuring that it plays a pivotal and major role in the initial stages to be a leader in the upcoming years.
Apple has reportedly stated that the increase in music streaming service fee is to compensate for the “increase in licensing costs”. The price of Apple Music’s annual plan is also increasing from $99 to $109, to align the plan with the increased price of the music streaming service. The Apple One bundle family plan also costs higher now, from $19.95 to $22.95 (USD).