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Beats subscription prices: Apple targeting sub-$10 level

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Apple is reportedly in talks with music label giants over reworking deals and reducing Beats Music subscription fees so as to make the music streaming service affordable for users.

According to a Recode report published Thursday, citing people with knowledge of the company’s plans, Apple is holding discussions with major record labels to work out on a new set of rights and features for a revamped Beats Music service version it is expecting to roll out sometime year.

Apple is also calling out for a new pricing structure that would see the music streaming service subscription selling for less than the current $10 (£6.20) level.

However, it’s still unclear at this point of time what new features are in the works or how much exactly Apple is planning to charge for its music subscription service. Popular rival music streaming services like Spotify, Rdio, and Rhapsody all charge $US10 per month for unlimited music streaming.

The report claims that discussions between Apple and major music labels are apparently in their early stages, while changes to Beats Music cannot be expected until next year.

There were also rumors of Apple, which closed its $3 billion Beats acquisition in August, of shutting down the music service. But Apple spokesman Tom Neumayr recently denied such rumor reports saying that the company has no any plans of scrapping the music service in future. Neumayr, however, did not give any more details on the company’s plans for the service.