Although some record labels are said to be open to the idea, the report claims at least one big label has expressed concerns, adding that the industry is growing more wary about its relationship with APPLE. The vast majority of the $10/month that Apple collects from Apple Music subscribers - over $7/month - goes right back to the record labels, so it's easy to see how a reduced-price bundle would impact these numbers.
This news comes via the Financial Times, which cites anonymous sources as saying the endeavor is still at an early stage and that Apple hasn't even started talking about pricing details yet.
At present, Apple Music costs $9.99 per month in the U.S. ($4.99 for students and $14.99 for a Family Sharing subscription, offering access to up to six users of the same family), whilst Apple TV+ is expected to be priced at $4.99 per month with a year's free subscription for those who purchase an iPhone, iPad, Apple TV, iPod Touch or Mac after September 10.
Apple is reportedly eyeing the possibility of creating a "super-bundle" by combining Apple Music and its upcoming Apple TV+ service into a single monthly package for users. Apple also offers Apple News Plus for $10 per month, and Apple Arcade, a subscription video game service, for $5 per month. The super bundles could come in tiers, with each tier bundle having a different offering and a different price. For the bundle to be successful, Apple needs to price it slightly lower at around $12.99/month or $13.99/month. It's also possible that Apple may tie some of this in with other services or bundles, such as AppleCare+ or the iPhone Upgrade Program. That would presumably hit record labels and if there's one thing we know about the music industry, it's that it doesn't like the idea of losing money or anyone telling it what to do.