Report Says Apple Music Price Drop Could Put Pressure On Spotify
According to Digital Music News, Apple is said to be mulling a potential price drop of up to 20% for their Apple Music streaming service in a bid to close the gap on major rival Spotify.
They say individual Apple Music plans would drop from $9.99 to $7.99 per month, while family plans could move from $14.99 to $12.99, a significant decrease when compared to competing services. Student pricing would remain unchanged at $4.99 per month.
It’s unclear whether this reduced price would prove a lasting change or a more temporary measure to woo new subscribers over the impending holiday season.
Sources told DMN that “serious discussions” within Apple could result in the price cuts arriving as soon as December, it was equally possible that they might not materialize at all.
Some, like Don Reisenger over at Fortune, remain skeptical of the rumor.
He says “this latest talk of an Apple Music price cut should be taken with the proverbial grain of salt. While it’s certainly possible Apple could cut Apple Music pricing, many signs point to the contrary.”
Reports in September pegged Apple Music’s subscriber count at approximately 15 million, half of its biggest competitor Spotify.