Some record labels are reportedly concerned about the idea of Apple potentially bundling its music streaming service and recently-announced TV+ video service for a single monthly fee.
That’s according to an article published by the Financial Times earlier today (October 7), which says that ‘some record labels [are] nervous about the prospect of offering their music for a lower price’.
Citing sources, the FT reports that labels were approached with the bundle proposition by Apple a short time ago and that not all companies are keen on the idea, with talks still in their early stages.
Netflix rival Apple TV+ launches on November 1, priced at $4.99/£4.99 per month.
Announced on September 1, Apple’s video subscription service will be available in over 100 countries and regions and will feature original shows, movies and documentaries.
Customers who purchase any new iPhone, iPad, Apple TV, Mac or iPod touch starting September 10 will get one year of Apple TV+ for free.
As noted by the Verge in September, the creation of an Apple services bundle would obviously make a lot of sense for the company, especially considering rivals like Amazon offer similar bundled services.
The FT report from today says that record label execs ‘fear that margins may be hurt if Apple undercuts the $10 monthly price’ charged by leading music streaming services.
“With Apple TV+, we are presenting all-original stories from the best, brightest and most creative minds, and we know viewers will find their new favourite show or movie on our service,” said Zack Van Amburg, Apple’s head of Worldwide Video, speaking in September.
“Each Apple TV+ original offers its own unique story, fresh perspective and powerful message — all meant to entertain, connect and inspire cultural conversations.”Music Business Worldwide