“Apple Music may be preparing for a major price drop, according to a pair of sources working closely with the streaming service,” Paul Resnikoff reports for Digital Music News.

“If implemented, the drop could be as much as 20%, which would put the final monthly price below $8,” Resnikoff reports. “The change, if implemented, would allow Apple to minimize any damage from a seriously undercutting Amazon Music.”

“The move could come as soon as this Christmas, and possibly start with a holiday promotional discount. Currently, Apple offers a three-month trial window for users, which automatically rolls into the $9.99 monthly tier. That formula would be altered, with those subscribing before Christmas enjoying the slashed rate by March or April,” Resnikoff reports. “Specifically, the three-month trial window would roll into a $7.99 rate, or a $12.99 family rate.”

Read more in the full article here.

MacDailyNews Take: Behold, the beauty of unfettered competition. Thanks, capitalism!

As we wrote last month:

Remember this: Apple’s pockets are deeper than everybody’s combined and in a race of the wallets, Spotify can’t even muster the entry fee.

Amazon challenges Apple, Spotify with new music streaming service starting at $3.99 a month – October 12, 2016