Apple Music is getting a price hike
Apple Music has increased subscription prices in the US, UK, and Europe, citing rising licensing costs. This follows similar price hikes by competitors like Spotify.
Why it matters
Rising subscription costs reflect broader inflationary pressures and changing economics within the digital music streaming industry.
Apple Music is more expensive now. In the US, an individual plan now costs $11.99 per month, a $1 bump up from the previous $10.99 price. A family plan now costs $19.99 per month, up from $16.99, and a student plan costs $6.99 per month, up from $5.99. Apple, in a statement to Music Business Worldwide, says it is increasing prices “as a result of rising licensing costs.”
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