Apple’s services business registers more than 1B subscribers
By MYBRANDBOOK
During its third-quarter results conference call, Apple said that its services business now has more than 1 billion paying subscribers. The company’s services portfolio comprises iCloud, Music, Fitness+, Pay, Apple Card and Apple TV+. It has added 150 million subscribers over the past 12 months, while registering $21.2 billion in revenue from its services. This is up 8% from a year earlier.
The services business accounted for more than 25% of the company’s total revenue in the quarter.
Soccer star Lionel Messi got a special mention from CEO Tim Cook. The Argentinian footballer recently signed up with Inter Miami, and his arrival in the States follows a 10-year exclusive streaming deal between Apple and Major League Soccer.
Messi is reportedly giving a boost to Apple’s subscription numbers, though it remains to be seen if that trend will keep up.
“Soccer legend Lionel Messi made his debut with Major League Soccer last month, and fans all over the world tuned in with MLS Season Pass,” Cook said.
Earlier this week, Apple said deposits through Apple Card Savings account have crossed $10 billion. The company launched the service in April, offering an APY (annual percentage yield) of 4.15%. In March, the company also launched its Pay Later product after several delays.
The company executives presented a positive outlook for the services business for the current quarter. CFO Luca Maestri said Apple will be able to convert free users in the ecosystem to paid users by presenting a larger portfolio of content.
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