Apple has surpassed 1 billion paid subscriptions across services including Apple Music, TV+, Apple Arcade, News+, Fitness+ and iCloud+. This is a major milestone for the company and shows that it is successfully transitioning to a services-based business model.
Apple has an active installed base of 1.8 billion devices
On August 3, 2023, Apple announced that it has surpassed 1 billion paid subscriptions across its services. In addition to the 1 billion paid subscriptions, the tech giant also said that it had an active installed base of 1.8 billion devices.
This means that there are more than twice as many active devices as there are paid subscriptions. This is likely because many people have multiple Apple devices, and they may not subscribe to all of its services. Apple’s CEO Tim Cook said:
We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone. From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.
Top services that contributed to Apple’s 1 billion paid subscriptions milestone:
- Apple Music: This streaming music service has over 82 million subscribers.
- Apple TV+: This streaming video service has over 45 million subscribers.
- Apple Arcade: This gaming subscription service has over 20 million subscribers.
- Apple News+: This news and magazine subscription service has over 20 million subscribers.
- iCloud+: This cloud storage and productivity service has over 700 million subscribers.
These services are all growing rapidly, and they are a major part of Apple’s future growth.
Apple’s success in the subscription market is a testament to the company’s focus on innovation and customer satisfaction. As Apple continues to develop new and exciting services, it is likely that its subscription business will continue to grow in the years to come.
The growth of Apple’s services business is a major reason why the company is so valuable. In the second quarter of 2023, Apple’s services revenue grew 17% year-over-year to $21.2 billion. This was the highest quarterly revenue ever for Apple’s services business.
Apple is well-positioned to continue to grow its services business in the years to come. The company has a strong track record of innovation, and it is constantly adding new services to its portfolio like possible 3D services for Vision Pro.