-
Apple (AAPL, $152.34) has 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 publisher has grown its TV and movie offerings since its 2019 debut at $4.99, remaining one of the cheapest streaming services until now – with prices now being bumped to $6.99.
-
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 (SPOT, $97.05) and Amazon (AMZN, $120.60). Spotify surged as much as 9.4% to $97.07 in response to the news, its biggest intraday rally in almost three months.