Several years services have become an essential part of Apple’s business and since then they have not stopped generating income. Thus, and according to the data presented in the report on the results of the fourth fiscal quarter, the company records 900 million users have subscribed to these services.
According to the company’s chief financial officer, Luca Maestri, services grew 5% year-on-year to $19.19 billion. This increase was generated mainly by subscribers to services such as iCloud, Apple Music, Apple TV +, Apple One Bundle, among others.
Despite Apple’s offer in this segment, the growth of Apple Music and Apple TV+ has been particularly instrumental in generating subscriber interestwho increasingly see Apple as a major competitor in the entertainment space.
nearly a thousand
Maestri also noted that the number was up 154 million from a year ago. Apple confirmed it reached 825 million paid subscribers in April and 860 million in July. This trend, which reflects an increase of between 35 and 40 million customers per quarter, Apple is expected to reach one billion paying subscribers by 2023.
For his part, the CEO of Apple, Tim Cook also intervened to declare on this subject:
We have a huge subscription business, 900 million paying subscribers now on the platform and growing very fast. We double in 3 years. This is the part that really interests us because we really believe that the engine of growth in services is there. the exchange rate is a bit temporary and the fundamentals are very good.
In addition to the reasons mentioned by the two leaders, the announcement of the recent price increase of Apple Music, TV + and Apple One packages would also increase profits.
Apple announced its fourth-quarter results on Thursday and earned $90.15 billion. Although the results do not entirely coincide with investors’ expectations, they are not negative given the general panorama in which the sale of technology products is not experiencing its best moment and many manufacturers are facing supply limitations. .