Verizon raises Apple Music perk prices to $11.99 and $19.99 monthly

Verizon has announced a price increase for its Apple Music perk, set to take effect on September 1. This change follows Apple Music's recent decision to raise its subscription prices for both Individual and Family plans, marking the first hike in nearly four years. The updated rates reflect a $1 increase for Individual plans, bringing the monthly cost to $11.99, while the Family plan will now cost $19.99, up $3.

This adjustment comes at a time when streaming services are facing rising operational costs and increased competition. Apple Music's recent price changes align with broader trends in the industry, where many platforms have adjusted their rates to remain viable. Despite the hike, Apple Music's Individual plan still remains cheaper than Spotify’s, while its Family plan is just slightly above YouTube Music's pricing. This pricing strategy may influence users' choices as they evaluate their options among various music streaming services.

For Verizon customers, those on certain legacy or grandfathered plans can still access Apple Music for six months free, after which the cost will rise to $10.99 per month. While this is a slight discount compared to the new standard rate, it still signifies a shift in the pricing landscape for music streaming. The absence of a free, ad-supported tier on Apple Music continues to be a drawback compared to competitors like Spotify and YouTube Music, although speculation suggests this may change in the near future.

As the industry evolves, these price adjustments will likely prompt users to reassess their subscriptions. Verizon's decision to raise rates on its Apple Music perk may lead to increased scrutiny from customers, especially those who are sensitive to price changes. How these adjustments affect subscriber growth and retention for both Verizon and Apple Music remains to be seen, but it's clear that the competitive landscape is forcing companies to adapt.