Apple allegedly considering price cuts up to 20% for Apple Music

New reports out of Digital Music News claim that Apple is considering lowering the monthly fee for Apple Music. The report claims that the Cupertino company is considering price cuts up to as much as 20 percent.

The 20% price cut would bring the individual Apple Music subscription to $7.99 a month, $2 less than the current $9.99. The family plan, which allows streaming for up to six people, could drop to $12.99. Again, this would be a $2 discount from the current $14.99 price tag. The $4.99 student tier would remain the same.

The report claims that the prices will initially begin as a holiday promotional discount, with those subscribing prior to Christmas seeing the lower prices. While it’s not explicitly spelled out, it’s implied that the prices would continue throughout the year.

These discount allegations come not too long after Amazon announced its new Music Unlimited Service, which comes in at a price of $7.99 per month for Prime users and $3.99 for users with an Amazon Echo device. It would also mean a more direct competition for Spotify.

Now, Digital Music News hasn’t had the best track record so like most Apple rumors this should’ve taken with a grain of salt. I for one am all for a price drop. Apple Music is a great streaming service and would certainly help on the fence users hop on board.