Music Business

Apple Music ups subscription price to $10.99

UPDATED: Apple is raising the price for Apple Music, Apple TV+, and Apple One worldwide. As of Monday, October 24th, the basic Apple Music subscription in the US will go up $1 to $10.99 per month.

The Apple Music US Family plan will increase by $2 to $16.99 and the individual annual plan will rise $10 to $109 per year. In the UK, the basic plan will rise to £10.99 per month and the Family plan to £16.99 with matching increases in all Euro countries.

Apple shared this statement to explain the Apple Music increase:

“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.

HYPEBOT TAKEAWAY: Apple Music’s price increase will have a minimal impact

The increase will be welcome news to rights holders and creators who have been clamoring for a rate increase and this gives competitors room to follow suit.

But much of this increase in revenue has already been allocated to pay higher rates recently negotiated for songwriters and music publishers; and very little of it will trickle down to artists and other rights holders.

MORE:

Spotify adds 8M paid subscribers as revenue tops $3B in Q3 2022

Spotify will NOT match Apple Music’s subscription rate hike, for now

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