Today, Apple announced raising the prices of its subscription services, including Apple Music, Apple TV+, and the Apple One bundle.
For the first time, Apple has raised the prices of its music and video streaming services in the United States.
Apple Music’s Individual plan now costs a monthly $10.99, a $1 bump in price. Similarly, a $2 increase in the price of the music streaming service’s Family plan now places it at $16.99.
The Cupertino-based tech giant also announced an increase in AppleTV+’s price. The monthly plan on the video streaming platform now costs $6.99, while an annual plan is $69.
Since the Apple One bundle includes the Apple TV+ and Apple Music, the price bump is a no-brainer.
The Individual and Family plan on the Apple One bundle now costs $16.95 and $22.95, respectively. Likewise, the Premium plan is now $32.95 in the United States — a $3 bump from the previous price.
So why the price increase?
Higher Licensing Cost Raises Apple Music Subscription Fees
In a statement to 9to5Mac, an Apple spokesperson notes that the increased Apple Music subscription fee is due to a higher licensing cost. Besides, the price bump suggests that creatives can now earn more for their music on the streaming platform.
The statement reads:
“The subscription prices for Apple Music, Apple TV+, and Apple One will increase beginning today. 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. We also continue to add innovative features that make Apple Music the world’s best listening experience.”
The spokesperson further pointed out that Apple introduced Apple TV+ at a low price because it only had a few shows and movies.
However, the video streaming platform has grown in the last three years. Now you’ll find an extensive range of award-winning and critically-acclaimed series, documentaries, and movies. So the price bump is not surprising.
Subscribers in the international market could see an equivalent price increase in the coming days.