Apple raises prices for music and TV streaming services - CNN

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(CNN Business)Apple connected Monday raised the terms of its euphony and video streaming services, successful the latest illustration of streaming products getting much costly successful caller months.

An Apple Music subscription for individuals volition present outgo $10.99 per month, up from $9.99, and a household program supporting up to 5 radical is present $16.99 per month, up from $14.99.

The terms of Apple TV+ volition summation to $6.99 per month, a 40% summation from the $4.99 it outgo previously, the institution said Monday.

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In a connection to CNN Business, Apple (AAPL) said the alteration successful Apple Music's outgo is "due to an summation successful licensing costs, and successful turn, artists and songwriters volition gain much for the streaming of their music."

The institution besides said Apple TV+ was introduced "at a precise debased terms due to the fact that we started with conscionable a fewer shows and movies." Apple has since expanded its slate of offerings and won the champion representation grant astatine the Oscars this twelvemonth for the movie "CODA."

But the caller terms hikes could beryllium the latest trial of however overmuch consumers are consenting to walk connected streaming products astatine a clip erstwhile rising ostentation has much broadly driven costs up for Americans crossed a wide scope of services.

In August, Disney announced that the terms of the premium tier of Disney+ would leap $3 to $10.99 per month, its largest terms summation since the streaming work launched astir 3 years ago. Hulu, which is bulk owned by Disney, raised its subscription prices earlier this month.

Apple's terms summation besides comes arsenic macroeconomic pressures person deed the tech assemblage particularly hard, pushing companies to scramble for new ways to make revenue. Apple, which has seen its banal diminution astir 18% truthful acold this year, has progressively stake connected gross from its subscription services to bolster its bottommost enactment successful caller years astatine a clip erstwhile iPhone income maturation has slowed.

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