Apple Services, the category that includes Apple TV + and Apple Music, generated $ 19.2 billion in revenue, a 5% year-over-year increase in the fiscal fourth quarter. Apple now has more than 900 million paid subscriptions, up from the 860 million the world’s most valuable company reported in its Q322 earnings release in July.
J. Clara Chan reports for The Hollywood Reporter:
Considering the tech giant’s product sales, Apple grossed $ 90.1 billion during the quarter, a quarterly record for the company driven by continued iPhone sales. “Our record results for the September quarter continue to demonstrate our ability to act effectively despite a difficult and volatile macroeconomic environment,” said Luca Maestri, Apple’s CFO, in announcing the results.
The company’s earnings report comes just days after Apple instituted a price hike on Apple TV +, Apple Music, and the Apple One subscription package …
Speaking to analysts about the company’s earnings call, Cook said the Apple TV + price increase reflected the increase in content available on the streamer. “We’re very focused on the originals only, so we had four or five shows or so at first and the price was pretty low,” she said. “We now have a lot more content and we go out more each month, so we raise the price to represent the value of the service.”
MacDailyNews takes: Apple now has the milestone of 1 billion paid subscribers firmly in sight!
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