Spotify Falls After Apple Launches New Services Bundle

Spotify said the Apple One bundle disadvantages streaming music rivals by favoring its own Apple Music service.

Apple said the bundle was aimed at existing users of its services and its customers can avail alternatives for each of the company’s services.

Spotify and Apple charge $10 a month for their streaming music service, but the Apple One package, which starts at $15 per month, bundles it with other services such as television or video games.

“What Apple is attempting to do is sort of form an ecosystem, like what Amazon Prime has done, where they become a one stop shop, and certainly because of that competitors like Spotify do face some risk,” said Aadil Zaman, partner at Wall Street Alliance Group.