Apple is raising the cost of Apple Music, Apple TV+ subscriptions

Apple TV+ and Apple Music prices are going to hike in the short run, as the company announced Monday. With that being said, the cost of Apple One's package would also rise.

These measures represent the first price surge for services in the United States.

Individual monthly Apple Music subscription, as stated by the corporation, is expected to increase by 1 dollar, while the family plan cost will rise by 2 dollars. Thus, the tech giant's total price hike stands for $3 in 2022.

The company noted this growth to be due to an upswing in licensing costs. However, revenues for artists and songwriters from music streaming are set to increase accordingly.

As Apple executives said, subscription fees for Apple Music, Apple TV+ and Apple One will go up starting today. The reason is the low price strategy set by the corporation at its early stages. At that time, Apple TV+ broadcasted only a couple of shows and movies, but it has grown significantly over the past three years since the service launched. The streaming subscription now offers a wide range of feature films, documentaries, original series that have gained worldwide popularity, and movies for children and families.