The statement is true and well known. See e.g. Thms. 8.1.3 and 8.1.4 in Goodman-Wallach: Symmetry, representations and invariants, Springer GTM 255.
In fact, much more is known. Let, more generally, $H\subseteq G$ be a subgroup (everything is compact). Then it follows easily from Peter-Weyl that $G$-to-$H$ branching is multiplicity free if and only if $\mathbb C[G]$ is multiplicity free as a $G\times H$-module. This means that $G\times H/{\rm diag}\, H$ is a spherical $G\times H$-variety. There are (up to trivial modifications of the centers) only two series of indecomposable pairs $(H,G)$ with multiplicity free branching namely $U(n-1)\subset U(n)$ and $SO(n-1)\subset SO(n)$. This was known much earlier to Kostant but also follows easily from independent classifications classifications of Brion and Mikityuk.
The spaces $G\times H/H$ for $G$ unitary or orthogonal can also be defined for indefinite scalar products or over local fields. Then they are called Gross-Prasad spaces. Gross and Prasad stated a conjecture on the multiplicity freeness of these spaces which has attracted a lot of attention in recent years.