Apple’s music streaming service could soon become a bit cheaper, if a currently circulating report is to be believed.
According to a new report by Digital Music News, Apple Music could see a drop in monthly subscription price in the near future. The Santa Monica-based publication cites “a pair of sources” who are “not inside Apple” but have been “working closely” with the service since its launch.
How much cheaper?
If and when it is applied, the price drop is expected to result in a $2 discount on both Apple Music’s individual plan and family plan, which covers up to six users. This means that the individual plan, which currently costs $9.99 per month, will then have a rate of $7.99 per month, and the family plan, which currently goes for $14.99 per month, will then be available for $12.99 per month. The subscription fee for the service’s membership plan for college students, however, will reportedly remain unchanged at $4.99 per month.
Why the price drop?
Presumably, the price drop talks are due at least in part to the recent launch of Amazon Music Unlimited, specifically its competitive pricing.
Amazon’s premium music streaming service is initially available on two plans: individual and Echo. The individual plan, which supports one account on all compatible devices, is priced at $9.99 per month for non-Prime members or $7.99 per month for Prime members. The Echo plan, which may be used on a single Amazon Echo, Echo Dot or Tap speaker, costs just $3.99 per month.
Learn more about Amazon Music Unlimited
Reduced subscription fees could also help Apple Music better compete with its biggest rival, Spotify, which has more than 40 million paying subscribers against its more than 17 million members. Spotify currently has the same pricing scheme for individual and family plans as Apple Music.
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How likely is it?
According to the rumor’s sources, Apple Music’s price reduction could begin implementation as early as this Christmas. The sources are seemingly quick to add, though, that while it is “under serious discussion,” the markdown may not be put into effect in the end because of possible disputes on how much the price will be reduced, particularly those with major labels, which are inclined to demand the same rate from Apple even with the discounted subscription pricing in place.
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