Apple services sees remarkable growth, touch 900 million subscribers
Though iPhone is the cash cow for Apple, its services division is growing big with each passing year and we won't be surprised, if it becomes the company's biggest money spinner in a few years.
In the last earnings report, Apple services reportedly recorded $78 billion revenue for the 2022 fiscal and for the quarter ending October (2022), it registered $19 billion.
Apple services include Apple TV+, Arcade (for games), Music app, in-app purchases made on App Store, and more. As per the latest official data, the paid subscriber numbers have touched the 900-million milestone and it won't be long before it reaches the one billion mark.
"When we started Apple TV+ a few years ago, we did so to tell stories that reflect our broader humanity. And whether it was CODA winning the Oscar for Best Picture or Ted Lasso winning back-to-back Emmys for Best Comedy, we have seen, in so many ways, the validation of this kind of storytelling and the strong desire for more of it. And believe me: There’s much more to come. Moments to anticipate, enjoy, and reflect upon. Moments that will have us jumping up with excitement or at the edge of our seats, or that make us want to get up and dance. Moments that can create lasting memories and bring us closer to one another," said Eddy Cue, Apple’s senior vice president of Services.
Apple noted that the App Store registers 650 million visitors across 175 regions each week and since 2008, the company has paid over $320 billion to app developers to date.
Apple Arcade too added 50 new gaming titles in 2022 including, including Warped Kart Racers, Jetpack Joyride 2, Gibbon: Beyond the Trees, Wylde Flowers, and Cooking Mama: Cuisine!. Now, it has more than 250 games that offer ad-free playtime for subscribers.
Apple Music is now home to more than 100 million songs and recently, it introduced Spatial Audio, Karaoke-centric Sing, and more. Also, the feature-rich Shazam song identifier is the most popular among users. features are bringing in more subscribers. In 2022 alone, users used the Shazam feature to discover 40 million different songs and one million plus artists for the first time.
Since its debut two years ago, people have used Shazam to identify 70 billion songs to date. This is one of the compelling features for people to subscribe to Apple services.
Apple Over-The-Top (OTT) service TV Plus is growing big with more and more original content collections and also several TV shows and content such as Ted Lasso, CODA, Louis Armstrong’s Black & Blues, and more have won top honours around the world. So far 300 shows have won awards and around 1,305 Apple Originals have received nominations.
Later this year, it is slated to bring new originals developed by world-class creators including Dear Edward, Hello Tomorrow!, The Reluctant Traveler, and Shrinking.
Also for the first time, Apple in 2022, forayed into live sports streaming with 'Friday Night Baseball' on Apple TV+. It has even signed a deal with Major League Soccer (MLS) and will start streaming MLS Season Pass service without any local blackouts, starting February 1.
Apple will also be bringing the latest updates on global sporting activities on its News app too.
With Apple Fitness+, the company is offering 3,500 guided workouts and meditations and has witnessed healthy growth in subscriptions.
Apple iCloud+ which offers extra storage with encryption is also popular among subscribers.
Other notable services including Apple Pay, Podcasts, Books, and Maps too have added value to the customers.
The company offers bundled package with Apple One with prices starting at 195 per month for individuals and Rs 365 per month for a family (up to five members) in India.
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