According to sources, Apple is reportedly looking into reducing the price of its Apple Music subscription service. The price reduction could be as much as 20%, which would put the price of a regular single subscription under $8. Currently, the regular rate is $9.99 a month, the family package is $14.99 a month, and the student rate is at $4.99 a month. The company may be looking to make the move as soon as this Christmas, and may start out with a holiday promotional discount. At the current moment, Apple Music offers a three-month free trial period which becomes a $9.99 regular monthly subscription after the end of the free trial. If Apple ends up following through with the 20% discount plans, the free trial would roll into a $7.99 monthly subscription price. If Apple were to follow through with the subscription price reduction, this means that the family package, which now costs $14.99, would cost $12.99 a month, and the aforementioned regular subscription package would cost $7.99. The student rate would remain at $4.99. The subscription price reduction would come at a cost for Apple. Apple would most likely be required to pay the difference to major labels like Warner Music Group, UMG, and Sony Music Entertainment. Apple has yet to comment on the reported subscription reduction.
