October 25th news, according to Sina Technology, Apple has raised the prices of music and Apple TV+ services for the first time. Apple raised the price of Apple Music for individual users from $9.99 per month to $10.99, effective immediately.
Apple said in a statement that the price of music services rose because of "copyright fees rising" and singers and creators can now make more money.
In addition, Apple has also raised the annual price of its music package from $99 to $109, and raised its annual package from $49 to $69. The home version of Apple One integrated package will rise from $19.95 to $22.95. Premier packages with News+, Fitness+ and additional storage space based on Acade, Muscic and Apple TV+ will increase the price by $3 to $32.95.
Regarding the price increase of Apple TV+, Apple explained that the service was "launched at a very low price", but there were fewer shows and movies at that time. Now there are more award-winning works and widely acclaimed TV series, feature films, documentaries and other content, many of which are from the most creative producers in the world.
As a comparison, Apple Music's similar competitor, the current personal monthly fee of streaming music giant Spotify is US$9.99. After the news came out, Spotify's stock price rose to 9.4%, to $97.07, the largest single-day increase in in the past three months.
It is worth noting that in September, Apple announced that the prices of software and in-software projects in Apple's app stores in many countries and regions will be raised. According to a report released by Apptopia, the average price (IAP) of App Store in-app purchases rose by 40% from July 2021 to July 2022. As early as May, in order to improve the profitability of the business, Eddie Kuy, senior vice president of Apple Services, adjusted and improved Apple's services. At the same time, streaming and advertising are identified as two areas of revenue growth.
According to Apple's third-quarter financial report data, in the third quarter, Apple's revenue reached US$83 billion, and increased by 2% year-on-year, far lower than the 36% growth in the same period in 2021 and also lower than the 8% growth in the previous quarter. At the same time, net profit also fell by more than 10%. (Text｜Tianyu)
