Apple will cut the price of its Music service to remain competitive with Amazon, according to a report.
(CCM) — Apple is considering slashing its Apple Music service prices in an attempt to gain more subscribers, according to a report in Digital Music News. A pair of sources who claim to have worked closely with Apple Music since its launch believe the company may be considering cutting its subscription prices by as much as 20%. If true, the cost of an individual subscription would drop from $9.99 to $7.99 per month, a family plan would drop from $14.99 to $12.99, while the student pricing is expected to remain unchanged at $4.99. The reduced prices could come in to operation before Christmas, and new subscribers would begin to pay the reduced rate in March or April following the customary three-month free subscription period.
Such price cuts may be a response to Amazon's aggressive pricing for its newly launched Music Unlimited subscription music service. An individual subscription for an Amazon Prime member costs $7.99, while Amazon Echo, Dot, or Tap device owners pay just $3.99 per month for one device. Apple Music has met with reasonable success since its launch in June 2015 and is believed to have attracted about 17 million subscribers.
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