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Apple continues to see growth in Services in iCloud, Music, Apple TV+ and the App Store, reaching a record 816 million in the third quarter.
During Thursday’s earnings report, Tim cooks said Apple has 816 million ongoing paid subscriptions, including anyone who subscribes to an app sold in the Apple App Store, in addition to products like Apple Music and iCloud.
In January, Luca Maestri, Chief Financial Officer and Senior Vice President of Apple, reported that Apple had a total of 785 million subscribers.
In May, Eddy CueApple’s senior vice president of services, reportedly worked to shake up the company’s lucrative services. The company has reportedly identified streaming and advertising as two areas for revenue growth.
Services has been a steady money maker for Apple over the years. In the second quarter of 2022, the segment grossed $19.8 billion, an increase of $17 billion year-over-year.