Apple increased prices for music and TV streaming services, this week

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Apple has raised the prices of Apple Music and Apple TV+ on Monday. Apple music costs $11 per month for individual plans (up from $10) in the US, or $109 per year. The Family plan now costs $17 per month instead of $15. TV+ sees the largest relative jump as the price has increased from $5 per month to $7, and from $50 per year to $69. The price of the multi-service One bundles also increased. The company motivated the new prices by the increases to licensing costs. As a result, artists and songwriters will earn more for the streaming of their music.

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“We introduced Apple TV+ at a very low price because we started with just a few shows and movies. Three years later, Apple TV+ is home to an extensive selection of award-winning and broadly acclaimed series, feature films, documentaries, and kids and family entertainment from the world’s most creative storytellers,” the company also said. Some of the Apple competitors increased prices too recently. As an example, YouTube raised the price of its YouTube Premium Family plan by 28%, with U.S. prices increasing from $17.99 to $22.99. In August, Disney announced that the price of the premium tier of Disney+ would jump $3 to $10.99 per month, its largest price increase since the streaming service launched nearly three years ago.