The tech-giant Apple is increasing the prices of their Apple TV and Apple Music streaming subscription services.
According to the reports and sources, it tells that tech-giant Apple is all set to raise the prices of their TV and music streaming service. It was reported that Apple had increased the prices of their monthly and annual subscription services. They have raised the prices for the Apple One bundle. There was a statement where Apple said the price would be increasing for Apple Music because of the increased licensing costs of the music.
The individual monthly subscription for Apple Music was $9.99, but now they have raised it to $10.99. However, its competitor, Spotify, gives the same service that starts at $9.99 per month.
Having access to the Apple TV+ will be costing $6.99 per month. The previous price was $4.99 per month. Apple TV+ has been competitively priced against other streaming services. Other reports tell that other streaming services have raised their prices in recent months.
Disney+ is the competitor of Apple TV+, and it starts at $7.99 per month, and Netflix has its monthly subscription service priced at $9.99. There’s an ad-supported service that will be priced at $6.99 per month, and it is currently in the works.
Apple has raised the annual subscription prices for these services. The tech giant also raised the price of entry-level for Apple One. In addition, they have increased the Arcade gaming service cost from $14.95 to $16.95.
There are some reports which say that the international markets and some other bundles will see a rise in price. All of these price hikes are happening because of the ongoing inflation around the world that is forcing businesses to increase prices while they are trying their best to preserve their consumer demand.
These increases will be soaring the revenue of Apple’s quickly growing services business. It was reported that there were $16.9 billion in sales during the June quarter.
Apple has warned that the services business growth will be slowing a little bit in the September quarter because of the strong dollar.
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Apple said in a statement, “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.”
They further added, “We introduced Apple TV+ at a very low price because we started with just a few shows and movies. Three years later, Apple TV+ is home to an extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment from the world’s most creative storytellers.”
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