Apple Music just raised its subscription price to $10.99 in the US. Will Spotify be next?
Apple are raising prices for Apple TV+, Apple One and Apple Music all around the world.
In the US, starting Monday (October 24), individual Apple Music subscriptions will increase by $1, from the current $9.99 price to $10.99 per month.
Meanwhile, the Apple Music Family plan in the US will increase by $2, from the previous $14.99 fee, to $16.99. The annual plan for individuals in the US is increasing by $10, to $109 per year (from $99).
In the UK, the price of the Personal plan is going up to £10.99 per month and the Family plan is going up to £16.99, while in Europe those prices are going up to €10.99 respectively. and 16.99 € (see below).
In a statement provided to MBW, Apple said that the change in its Apple Music price “is due to an increase in licensing costs” and that “in return, artists and musicians will earn more for their music streaming”.
“We also continue to add innovative features that make Apple Music the world’s best music listening experience,” the statement added.
Features added by Apple Music over the past few years include release Lossless Audio and Spatial Audio with Dolby Atmos support for its service in May 2021 at no additional charge.
Recent Apple Music and Mercedes-Benz announced Spatial Audio with Dolby Atmos support will be available for the first time in Mercedes-Benz vehicles.
Apple Music disclosure earlier this month, it now has 100 million songs on its platform.
Apple’s price hike for Personal and Family music plans in the United States marks the first time the company has raised subscription prices in the marketplace. (Apple Music launched in June 2015, for $9.99 per month in the US.)
All eyes will now be on rival Apple Music Spotify ahead of third-quarter earnings results this week.
Spotify has price increase – when it comes to a multi-user plan like the Family Plan – in many marketsincluding the United Kingdom and the United States, in the past 12 months.
SPOT also increased its individual Premium subscription fees in markets like Brazil, Argentina and Sweden last year, paid for by MBW in an analysis in May.
However, the $9.99 / €9.99 / £9.99 per month price – for individual premium Spotify subscriptions in the service’s largest markets – remains the same in the US, UK and in the UK. Europe’s biggest markets like Germany.
“The change to Apple Music is due to increased licensing costs and, as a result, artists and musicians will earn more money for streaming their music.”
In a statement, Apple said: “Apple Music, Apple TV+, and Apple One subscription prices will increase starting today.
“The change to Apple Music is due to increased licensing costs, and as a result, artists and musicians will earn more money for streaming their music.
“We also continue to add innovative features that make Apple Music the best music listening experience in the world. We featured Apple TV+ at a very low price because we only started with a few shows and movies.
“Three years later, Apple TV+ is home to an extensive selection of series, feature films, documentaries, and entertainment for children and families from the world’s most innovative storytellers.”
Apple isn’t the only tech giant to announce an increase in subscription prices this week. Subscribers of YouTube Premium’s family plan will cost an extra $5 for their subscription after the video streaming platform monthly fee increase up 28% to $22.99.Worldwide music business