Apple Hikes Music and TV+ Prices in First Increases Since Launch
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Apple Inc. increased prices for its music and TV+ services for the first time.
Apple Inc. increased prices for its music and TV+ services for the first time, citing rising licensing costs, a move that risks giving rivals an edge in a fiercely competitive streaming industry. The company increased the price of Apple Music to $10.99 a month from $9.99 for individuals, effective immediately, making it more expensive than services from Spotify Technology SA and Amazon. com Inc. Spotify surged as much as 9.4% to $97.07 in response to the news, its biggest intraday rally in almost three months. With its video plan, TV+, Apple will continue to offer a lower price than companies like Netflix Inc. or Warner Bros. Discovery Inc., but that service has been slow to build as big a follo...