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Is $5 The New Normal? Apple, Music Streamers Push To Lower Monthly Prices

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The race to the bottom is on…

Yesterday, Spotify introduced a family plan that allows Premium subscribers to add up to 4 “family” members to their plan for just $5 per month. Each gets their own distinct and fully functional Spoitfy Premium account for half the usual $10. There are also increasing rumors that Apple is pushing record labels for a $5 monthly price point, as it seeks to launch an expanded music subscription service based on recently purchased Beats Music.

If the labels allow one music service to offer $5 subscriptions, it will have to allow all of their competitors – Spotify, Rhapsody, Deezer, Rdio, etc – to do the same.

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Hypebot