2023-12-13 16:51:34
Apple is expected to be hit with a ban on App Store rules that govern some music streaming services and a potential hefty fine from European Union regulators, Bloomberg News reported Wednesday.
European authorities are finalizing a decision that would ban Apple’s practice of preventing music services from pushing their users to abandon the App Store in favor of other subscription options, the report said, citing people familiar with the investigation.
The ruling is expected early next year and Apple might be fined up to 10% of its annual revenue, according to Bloomberg.
The investigation was sparked by a complaint filed almost four years ago by Swedish company Spotify Technology, which claimed it was forced to increase the price of its monthly subscriptions to cover costs related to App Store rules from Apple.
The European Commission filed a complaint once morest Apple earlier this year, saying the conditions are unnecessary and customers risk paying more.
Apple and European Commission officials did not immediately respond to Archyde.com’ requests for comment.
Apple shares were up slightly in followingnoon trading.
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