Apple Music just bumped prices globally for the first time in three years, citing climbing licensing fees, and the Individual tier jumped a buck to $11.99 monthly. Family plans hit $19.99 in the US, while UK and European subscribers see similar one-to-three currency-unit increases. New sign-ups pay immediately, and existing users get shifted when their next cycle rolls around.
And yeah, this tracks with what Spotify did earlier this year when it pushed its Individual plan to $12.99. Apple's new rate still undercuts that by a dollar. Major labels have been pressuring every streaming platform to hike fees, arguing music subscriptions remain absurdly cheap next to video services like Netflix. The global market already sits at 921.6 million subscribers.
Spotify's Co-CEO Alex Norström noted on a recent earnings call that retention stayed steady across over 150 markets after their hikes. Translation? People grumble but keep paying.
And yeah, this tracks with what Spotify did earlier this year when it pushed its Individual plan to $12.99. Apple's new rate still undercuts that by a dollar. Major labels have been pressuring every streaming platform to hike fees, arguing music subscriptions remain absurdly cheap next to video services like Netflix. The global market already sits at 921.6 million subscribers.
Spotify's Co-CEO Alex Norström noted on a recent earnings call that retention stayed steady across over 150 markets after their hikes. Translation? People grumble but keep paying.
