Services continue to be one of the main pillars of Apple’s financial statements and even in the last fiscal quarter have reconfirmed this role. Of course, by services we mean everything that the Cupertino company offers to customers other than a hardware product, therefore Apple Music, Apple TV +, Apple News, iCloud, etc.
In the usual meeting with investors, Apple’s CFO, Luca Maestri, provided interesting data to evaluate how the user base who chose to subscribe to one of Apple’s paid services is evolving. The most relevant information concerns the confirmation of over 860 million subscribers, an increase of 160 million users over the past 12 months. The executive did not disclose more specific data for individual services, except for a reference to the marked growth of the content offering in Apple TV + and Apple Arcade.
In Apple’s fiscal third quarter, Services generated $ 19.60 billion in revenue and, along with the iPhone, were the Company’s only products to record year-over-year growth – in Q3 2021, Services revenue was equal at $ 17.48 billion.
Of course, Services aren’t subject to the same dynamics that impact hardware sales – think of the supply issues that slowed Macs in the last quarter – but it’s also true that Apple has worked to improve the overall offering, too. through the grouping of multiple services in the unified Apple One subscription (launched at the end of 2020 and available since last November also in Italy in the Premium variant). The fact that, despite the difficulties of the market, Apple records an increase in iPhone sales gives it a further way to expand the number of subscribers: in fact, Apple smartphones often act as the gateway to subscribe to one or more services of the Apple.
