Apple acquired Beats Music and Beats Audio in a deal which was worth $3.2 billion, one of the reasons for the purchase was for the Beats Music streaming service.
Now according to a recent report by re/code, Apple is looking to get the music labels to cut the prices it charges Beats Audio for music streaming, which would then allow Apple to offer the service at a lower price.
Sources say Apple is talking to the big music labels about a new set of rights and features it would like to include in a revamped version of the Beats Music service it bought earlier this year. Among the things Apple wants is a new pricing structure that would allow it to sell the service for less than the $10 level it’s at now.
The lower price would help Apple grow the amount of subscribers that use the Beats Music service more quickly, Apple’s iTunes downloads are slowing down, and they are looking to get people to use their new streaming service.
Whether or not the music labels will go for a lower price from streaming remains to be seen, giving Apple a lower price would mean that they would also probably have to offer a similar deal to the likes of Spotify and other services.