Apple Music, the company’s music streaming service, has been around a little over a year now. Although the service competes directly with other streaming services such as, Tidal, and Amazon Prime, its user base (at 17 million) is rather low in comparison to Spotify’s 30 million. Moreover, Apple Music’s membership prices have been on par with its competition, priced at $9.99 CAD per month for a single-user subscription.
Now, according to a new report from Digital Music News, the Cupertino-based company is seriously considering a price drop for its music streaming service. The sources, while not directly within Apple’s work space, have worked directly with the streaming service for quite some time.
“The sources are not inside Apple, but have been working closely with the Apple Music service since its launch,” details the report from Digital Music News. “They also emphasized that the changes are still under discussion, albeit ‘under serious discussion’. Still, there are valuation debates underway, and the price chop may not be implemented.”
If this report of a price drop end up being true, we could expect the price of a single-user Apple Music subscription to drop from $9.99 CAD to $7.99 CAD. In terms of the family plan subscription options, the subscription price would drop from $14.99 CAD to $12.99 CAD. That’s a solid savings of up to 20 percent.
If you combine this with your 20 percent off iTunes cards from Costco to fund your account, you’re saving even more.
With these updated prices, Apple Music will match the price of Amazon’s new Music Unlimited service, which costs $7.99 CAD per month for Prime subscribers and $9.99 CAD per month for regular users. The new price point would also undercut Spotify’s $9.99 CAD standard ad-free plan. However, unlike Apple Music, Spotify still offers an ad-supported freemium plan.
Regarding the price cuts, their rollout could potentially begin by this holiday season. Additionally, Digital Music News claims that the price cuts could begin rolling out with a “holiday promotional discount.”
Only the regular and family plan options would see a price cut; subscription options for students, which is $4.99 CAD a month, are expected to remain the same.