Apple is raising prices on two of its most popular subscription-based streaming services—Apple Music and Apple TV+. So, if you pay for either of those, or you're subscribed to Apple One, expect to start paying between $1 and $2 more per month.
Like almost all of you, we're not happy with the prices going up either. But why is Apple doing this, and do they have a valid reason for the hike? Let's find out.
Apple Raises the Subscription Costs for Its Streaming Services
On October 24, 2022, 9to5Mac reported that Apple made the decision to raise prices for Apple Music, Apple TV+, and Apple One. Price changes go into effect immediately for new subscribers, but existing subscribers will be affected from their next billing cycle. So, consider yourself lucky if you're paying for an annual plan.
As of this writing, the increased subscription costs seem to only apply to consumers in the United States and Canada. However, considering the inflation rate, you can expect the Cupertino-based company to gradually raise prices internationally. Apple has updated its website to reflect this price change.
We'll discuss the updated pricing in a bit, but before that, let's look at Apple's justification for this price hike.
Apple's Response to the Price Increase
In an official statement to 9to5Mac, an Apple spokesperson said:
"The subscription prices for Apple Music, Apple TV+, and Apple One will increase beginning today. The change to Apple Music is due to an increase in licensing costs, and in turn, artists and songwriters will earn more for the streaming of their music. We also continue to add innovative features that make Apple Music the world's best listening experience. We introduced Apple TV+ at a very low price because we started with just a few shows and movies. Three years later, Apple TV+ is 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."
This is the first time Apple has increased the subscription costs for its streaming services like Apple TV+ and Apple Music since their introduction. But if Apple has to pay artists more, and if the media catalog for the Apple TV+ service is ever-expanding, you can expect the costs to be forwarded to the end consumer.
Apple's Revised Pricing for Apple Music, Apple TV+, and Apple One
Price increases vary depending on service and plan. Expect to pay between $1 and $2 more monthly for Apple Music, depending on whether you're paying for an individual plan or using Apple Music Family. The individual plan for Apple TV+ is also going up by $2 per month.
As a result of the price changes to Apple Music and Apple TV+, Apple One, the subscription bundle, which includes Apple Music, Apple TV+, Apple Arcade, and several other services, is also increasing between $2 and $3 per month, depending on the tier. Here are the finer details:
Apple Music
- Individual plan: $10.99 per month (previously $9.99)
- Individual plan (annual): $109 per year (previously $99)
- Family plan: $16.99 per month (previously $14.99)
Apple TV+
- Monthly plan: $6.99 per month (previously $4.99)
- Annual plan: $69 per year (previously $49.99)
Apple One
- Individual plan: $16.95 per month (previously $14.95)
- Family plan: $22.95 per month (previously $19.95)
- Premier: $32.95 per month (previously $29.95)
Is Apple's Price Hike Justified?
The International Monetary Fund expects global inflation to increase to 8.8% in 2022, so consumers should expect more price hikes in the foreseeable future. Although Apple did raise prices, the company claims that its subscription services still offer a high level of value, and for the most part, that remains true.
Apple Music gives users access to high-fidelity, lossless audio at no extra charge, a feature that still hasn't arrived on Spotify. Similarly, you can share Apple TV+ with up to six family members at no additional cost, while other streaming services like Netflix are cracking down on password sharing.
Consumers are never happy when companies raise prices, but thankfully, Apple has decided to make a relatively small price increase on some of its biggest services.