Apple announced financial results for the last quarter of last year, which surprised by the fact that for the first time in a long time the giant’s earnings decreased. Of course, this may not be a big deal, because in terms of subscriber numbers, for example, its competitors can only envy it.
Almost a billion subscribers
Apple offers many types of subscriptions – iCloud, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+, Apple One and Apple Pay – and it made $20.8 billion, or about $450 billion, on those alone in the first quarter of the fiscal year.
This is an increase of about 6% compared to last year. In addition, business customers can subscribe to other services such as Business Essentials, AppleCare, Tap to Pay and Apple Financial Services. So while Apple hasn’t been able to sell as many devices as in previous years, revenue from these services partially makes up for the shortfall.
A star called Apple Music
As an example of how Apple cares about its services, consider Apple Music. Its catalogue has recently been expanded and currently contains over 100 million songs. It has also added the karaoke feature Apple Sing, but on the other hand, prices have been increased.
Besides, the Californian giant announced a double-digit increase in payments from subscriptions in the App Store. This is a somewhat controversial item, given that Apple has already been forced to allow payments via third-party systems in several countries. So if similar laws are passed in countries other than South Korea and the Netherlands, this amount may decrease. Apple is also considering opening up iOS 17 to other app stores.