There are rumors swirling about that will have Apple Music users rubbing their hands with glee. Word from the grapevine is that the music streaming service might soon cost subscribers significantly less. Instead of the usual $9.99, it may be $7.99 docked from their bank accounts every month by the Cupertino-based firm. Those subscribed under the family package will see their bill also go down by $2 to $12.99 but the student rate will remain unchanged at $4.99. The move is seen as a countermove to eat into Amazon Music’s market share. The newly launched Amazon Music Unlimited costs $9.99, but Amazon Prime users enjoy a reduced rate of $7.99. If you pay annually, it costs even less; just $79 and if you own an Echo or Echo Dot, one of those nifty listening devices sold by Amazon, you will pay a paltry $3.99 monthly. But moving to Amazon Music Unlimited from Prime Music, which is free for Amazon Prime users, may be a bit of a hard sell.
Even while consumers anxiously for these price cuts to materialize, experts feel the prices need to go even lower if the hundreds of millions of paid subscribers across the available platforms are to be converted into billions. They speculate that this won’t happen until monthly fees are in the region of $4. And that’s why Amazon’s foray into the streaming space was welcomed warmly. Spotify, the leader in this nascent field, may also now be forced to reconsider its rates.
Something to note before you get carried away by a wave of euphoria; the price slash was reported by sources close to Apple, not inside the tech firm. The sources also say that the lowered subscriptions are “under serious discussion” by Apple’s brass but that no concrete decision has yet been taken.
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