Apple says it now has more than 1 billion paid subscribers to its various services, as that line of its business has hit an all-time high.
The company revealed the number in its quarterly earnings report, disclosing total revenue of 81.8 billion, a decline of 1 percent from a year ago. This is the third consecutive quarter to see a decline in revenue from Apple, thanks to slower sales of its hardware devices, like the iPhone and Mac lines. Net income was $19.9 billion.
However, its services business continues to grow at a rapid pace, hitting $21.2 billion in the quarter, up from 19.6 billion last year. Apple services include Apple TV+, Apple Music, Apple Arcade, Apple News, and iCloud+. It also includes subscriptions through apps on the app store. The company did not break out how many subscribers used which service, beyond the topline 1 billion figure.
On the company’s earnings call, however, CEO Tim Cook said that Apple TV+ had hit a revenue record and touted the addition of soccer superstar Lionel Messi to Major League Soccer’s Inter Miami. Apple has the global exclusive rights to MLS.
“We are focused on original content and so we are all about giving great storytellers the venue to tell great stories and hopefully get us all to think a little deeper,” Cook added. “And sport is a part of that because sport is the ultimate original story.”
One thing that did not come on the call was the ongoing WGA and SAG strikes. of course, for Apple, its content business is a tiny piece of the overall pie. Apple’s total profits last quarter were nearly double Warner Bros. Discovery’s total revenue in the quarter, with WBD noting that it is firmly in the content business.
“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,” said Cook in a statement. “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.”
This article was originally published by The Hollywood Reporter.
