Apple will reportedly start offering subscription bundles of services like iCloud storage and Apple Music

• Apple is planning to introduce subscription bundles for services like Apple Music and iCloud storage, according to a report from Bloomberg.
• The bundles would come in tiers and would allow customers to subscribe to multiple services at lower prices than if customers paid for them individually.
• Apple is reportedly planning to introduce the new bundles this fall alongside the latest iPhones.
• Apple's services business has grown in recent years: The company reported that services grew 15% in the third quarter.

Apple is planning to introduce subscription bundles this fall, which will combine multiple Apple services at lower monthly costs.

According to a report from Bloomberg's Mark Gurman, Apple plans to offer tiers of services, like a basic package that would include Apple Music and Apple TV Plus, and a more expensive bundle that would include those services in addition to Apple News Plus, Apple Arcade, and iCloud storage.

The new bundles will be introduced this fall alongside Apple's next iPhones, Bloomberg reports.

A spokesperson for Apple declined to comment.

Currently, Apple offers each service as a separate subscription, meaning that if you use Apple Music and pay for iCloud storage, you're paying two separate monthly bills to Apple. Right now, if you subscribe to all of Apple's services, you're paying at least $31 per month and at most $40 per month as an individual — more if you have a family plan.

The new bundles would offer those services at lower prices than if customers paid for them individually. Bloomberg reports that families who subscribe to Apple's services could expect to see a discount from $2 to $5 per month with the new bundles.

Apple has made a big bet on services in recent years. In the third quarter of last year, iPhones accounted for less than half of Apple's total revenue for the first time ever as the company's services category grew. Apple's services business — which includes subscriptions, as well as products like Apple Care, the App Store, and search ads with the App Store — has continued to grow in 2020, despite a global pandemic and resulting economic downturn: Apple reported that services grew to $13.1 billion in the third quarter, up 15% from the same period last year.

Bloomberg notes that Apple hopes to garner the same loyalty to its subscription services as Amazon has with Prime, and is banking on its millions of loyal hardware customers to continue adopting its software offerings.