● Covered by 1 source · 1 reportMedium impact1 neutral
Apple Reaches 1.5 Billion Paid Subscriptions, Services Revenue Up 12%
Key points
- Apple now has over 1.5 billion paid subscriptions.
- This marks a 50% increase from 1 billion subscriptions three years ago.
- Services revenue grew 12% to over $30 billion in Q3.
- Subscriptions include Apple's services and App Store third-party apps.
Subscription Milestone Achieved
Apple reported reaching 1.5 billion paid subscriptions, a significant increase from the 1 billion subscriptions reported three years prior. This milestone was announced during the company's quarterly earnings call, which also revealed record Q3 results that exceeded Wall Street expectations.
Growth in Services Division
The company's services division experienced a 12% revenue increase during the quarter, reaching over $30 billion. This growth was attributed to various areas including advertising, the App Store, AppleCare warranties, music, video, cloud services, and payment services.
Subscription Composition
The 1.5 billion subscription figure encompasses both Apple's proprietary services, such as Apple TV, Apple Music, iCloud+, and the Apple One bundle, as well as third-party app subscriptions from the App Store. Apple receives a portion of the revenue from these third-party subscriptions, allowing them to be included in the overall count.
Impact on Apple's Business
The continued expansion of Apple's subscription base and the strong performance of its services division are important for the company's financial strategy. The services segment is known for its high margins, contributing to Apple's overall profitability and diversification beyond hardware sales.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Apple announced it has surpassed 1.5 billion paid subscriptions, a 50% increase from three years ago, alongside its Q3 earnings report. This growth in subscriptions, which includes both Apple's own services and third-party App Store subscriptions, contributed to a 12% rise in services revenue to over $30 billion.