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The Bear Traps Report founder Larry McDonald weighs in on Big Tech earnings on Mornings with Maria.<\/p>\n
Apple is raising prices on Apple Music subscriptions as well as certain Apple One plans as the company faces higher licensing costs.<\/p>\n
The tech giant last week hiked prices for Apple Music plans across subscription tiers. Individual plans will rise by $1 a month to $11.99, while student plans will increase by the same amount to $6.99 a month.<\/p>\n
Prices for the Apple Music family plan are also rising by $3 per month to a new monthly rate of $19.99.<\/p>\n
The company also hiked prices for some tiers of Apple One \u2013 the company’s bundle that allows consumers to subscribe simultaneously to Apple TV, Music, iCloud+, Arcade, Fitness+ and News+ or the first four services.<\/p>\n
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Apple raised prices on Apple Music plans as well as some Apple One packages. (CFOTO\/Future Publishing via Getty Images)<\/p>\n
Prices for the Apple One family tier are set to rise by $2 to a new total of $27.95 per month. Family plans may be shared with up to five people and have up to 200 gigabytes of iCloud storage, though they don’t include News+ or Fitness+ in the package.<\/p>\n
The individual Apple One subscription, which includes the same four services but with 50 gigabytes of iCloud storage, is unchanged at $19.95 a month.<\/p>\n
Apple One’s Premier package, which includes all six of the company’s subscription services with up to 2 terabytes of storage and may be shared among five people, will rise in price by $2 to $39.95 per month.<\/p>\n
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Ticker Security Last Change Change % AAPL APPLE INC. 327.74 +1.15
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The price increases apply to consumers in the U.S. as well as other countries around the world.<\/p>\n
The moves weren’t announced by Apple, which adjusted the prices for the various subscriptions and tiers on its website on Friday. Apple told 9to5Mac, “As a result of rising licensing costs, Apple Music is increasing its subscription price beginning today.”<\/p>\n
FOX Business reached out to Apple for comment.<\/p>\n
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Apple’s subscription price hikes follow higher iPad and MacBook prices. (Apple)<\/p>\n
In late June, Apple announced price hikes for its iPad tablets and MacBook laptops amid rising memory chip costs.<\/p>\n
The company raised the price of the MacBook Air by $200 to a new total of $1,299, while the budget Neo laptop price rose from $599 to $699. The price of a MacBook Pro with 1 terabyte of storage rose $300 to $1,999, while the iPad Air with 128 gigabytes of storage rose from $599 to $749.<\/p>\n
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Apple said at the time that it has “never seen a component price increase this much, this quickly,” adding that it had “shielded our customers from these increases so far, but we have now reached a point where we need to begin raising prices on a number of products.”<\/p>\n
#Apple #Music #subscription #prices #rise #due #higher #licensing #costs<\/p>\n","protected":false},"excerpt":{"rendered":"
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