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Apple Planning on Reducing Apple Music Price?

Apple are apparently planning on a price reduction for Apple Music.

Chance Miller (via 9to5Mac):

With a 20 percent discount, the single-person Apple Music plan would come in at $7.99 per month, which is $2 less than the current $9.99 price point. The family package, which allows for up to six people, currently comes in at $14.99, but with the price cut would come in at $12.99. The $4.99 student tier would remain the same.

If this comes to fruition it will be interesting to see what the price changes would be in the UK, where the weak pound is causing significant price increases.