HomeNewsApple increased the price of Apple Music and Apple TV plus.

Apple increased the price of Apple Music and Apple TV plus.

Many popular companies that provide music and streaming services have been increasing their subscription fees recently. The tech giant Apple is also increasing its subscription fees for services like Apple Music and TV+.

Recently Apple stock declined by 18% this year. Also, macroeconomic pressure has affected the tech sector badly. Companies are looking for new ways to generate revenue. Apple decided to increase its revenue from its subscription services to boost its revenue.

The new pricing of Apple Music and Apple TV+

For the individual plan, Apple Music has a new subscription fee of $10.99 per month with an increase of $1. For the family plan, the new price is $16.99 per month with nearly a 2$ increase in cost. Annually, the individual plan now costs 109$ compared to 99$ previously.

According to an Apple spokesperson, the price increase is to cope with the increased licensing cost and payout to songwriters. This will help the artists and songwriters earn more money.

The new cost for Apple TV+ individual subscription is $6.99 a month instead of $4.99 previously. Also, for the yearly plan, the subscription now costs 20$ more at 69.99.

According to Apple, the previous cost of TV+ was low since there was very little content available. Now Apple TV+ has more beautiful shows and watchable content than in earlier times so the price hike is justifiable.

Along with Apple Music and TV+ Apple is also hiking the price of Apple One. Now the individual plan of Apple One costs $16.95 a month with a 2$ increase. The family plan costs $23.95 a month citing a $3 increase. The cost of the premium plan is also increased by $3 taking the new cost to $32.95 a month.

In 2021, nearly 18.70% of its revenue was from its services. Apple is trying to increase its revenue from software. We can clearly see that whatever model of iPhone we have; we can clearly access all iPhone premium services from any iPhone model. Even if a person can’t afford a new featured iPhone or its devices, iPhone expects to earn from selling services to such customers.

Recently Disney hiked its price of Disney+ from $3 to nearly $11 per month. This was the largest price increase since it was launched. Hulu, where Disney has majority shares also increased its price this month. Many other companies are also doing the same sooner or later. Let’s wait and watch whether this step of Apple does them good or not.