Apple hiking U.S. prices for Music, TV for the first time
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Apple (NASDAQ:AAPL) is raising the prices on its media subscription services for the first time in the United States, in what it says is a response to increasing costs for licensing.
Apple Music will go up by $1 per month for individuals (to $10.99 from $9.99), and $2 per month for families (to $16.99 from $14.99), while Apple TV+ pricing's single service tier will go up by $2 per month (to $6.99 from $4.99, or $69 per year up from $49.99).
The Apple One bundle price is correspondingly also rising by $2-$3 per month: Individuals will pay $16.95, up from $14.95, while families will pay $22.95, up from $19.95. The Apple One Premier subscription will rise to $32.95 per month, up from $29.95.
International markets should see proportionally similar price hikes as well.
"The change to Apple Music is due to an increase in licensing costs, and in turn, artists and songwriters will earn more for the streaming of their music," a spokesperson told 9to5Mac. "We also continue to add innovative features that make Apple Music the worldâs best listening experience."
Apple TV+ launched at a low price with much less content, the spokesperson said, and now it features a broader selection of award-winning programs.
Apple stock is 1% higher midday Monday. Spotify stock (SPOT) has legged up to a new level after the news, +5.7%. Warner Music (WMG) has jumped to a double-digit gain.