The tech giant isn't just selling iPhones anymore—it's banking on subscriptions to its streaming and cloud storage services.
Apple announced that it now has 1 billion paying subscribers to its services and that revenue from these sales has reached an all-time high.
In its third-quarter financial results, reported after the stock market closed on Aug. 3, Apple reported $21 billion in net sales for its services category out of $81 billion in total net sales, meaning that these subscriptions now account for a quarter of the Cupertino, California-based technology company’s total sales.
Yeah, you're right. The actual quote is subscriptions, not subscribers.
“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 Tim Cook, Apple’s CEO.
Why increase compensation for workers when they’ll keep coming in and doing the work to make money for shareholders and owners of corporate real estate?
Yeah, that is pretty crazy. It's found almost everywhere, soon even grocery shopping will be subscription only.
I remember not that long ago trying, begging, pleading friends and family to hop on with apple. After 10 years, including working as Apple Support for 3 years, I finally got away. I love the quality, the software is so intuitive out of the box and it "just works".
I just signed up for apple one premier this week. I’ve actually done a lot to avoid getting locked in to apple in the past. I never subscribed to iCloud and instead used google photos and self hosted for picture storage. I still have some hang ups with how iCloud Drive works compared to O365 and google drive but apple has the best ecosystem overall. I think the only thing missing is a mesh system Wi-Fi with integrated HomePods like google has with Nest Wi-Fi
On related news, Apple announces that they will ship a microscopic piece of His Sacred Turtleneck inside every iPhone 15, thus making them sacred to their cult members.
As a celebration, members will see an increase in their service prices of up to 15%.