Beginning today, Apple is raising the prices for its popular subscription services
Beginning Monday, Apple is increasing the subscription prices for its popular services Apple Music and Apple TV+, as well as the price for Apple One, the subscription that bundles up to six Apple services.
Apple Music will cost about $1 more per month for individuals (increasing to $10.99) and about $2 more for families (bringing it to $16.99), as 9to5Mac reports. Meanwhile, the cost of Apple TV+ is rising by $2 to $6.99, and Apple One will cost about $3 more per month (increasing to $22.95 for a family plan).
The change to Apple Music is due to an increase in licensing costs, Apple said in a statement provided to ZDNET, adding that “in turn, artists and songwriters will earn more for the streaming of their music.”
Meanwhile, Apple TV+ was introduced three years ago at a low price “because we started with just a few shows and movies,” Apple said. Now, it calls the service “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.”
While Apple is mostly known for its lineup of products like iPhones and Macs, its Services division is an increasingly valuable part of the business. In Apple’s Q3, Services revenue rose to $19.6 billion, a June quarter record and a 12% increase year-over-year.
The company also hit June quarter revenue records in each major Services category, including all-time revenue records for Music, Cloud Services, Apple Care, and Payment Services. Apple reported having more than 860 million paid subscriptions across the services on its platform, which is up more than 160 million during the last 12 months.