A recent report reveals that the number of paid subscriptions on Apple’s platform now exceeds 900 million. This is an increase from 816 million in the previous quarter. Apple’s total subscribers continue to rise rapidly. In July of this year, the number was 816 million and has since increased by nearly 90 million. The pandemic has provided a boost to subscription service numbers over the past few years. Analysts expect the growth to slow down a bit as people return back to work. However, services like Apple Music and Apple TV+ appear to continue to grow when compared to other services like Hulu and app subscriptions.
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Apple’s total app subscription is massive
The total users are calculated by counting any subscriptions made on Apple platforms. This includes Apple services, entertainment apps, and app subscriptions from the App Store. Since the company takes a commission from every purchase or subscription on its platform, with few exceptions, it is able to count every subscription as a factor that adds to its bottom line. Its services continued to grow, with services setting a revenue record for the September quarter, up 5 per cent, Apple Chief Financial Officer Luca Maestri said. Thanks to strong customer satisfaction and loyalty.
Apple’s fourth fiscal quarter and full-year financial report for fiscal 2022 shows that its total net revenue in the fourth fiscal quarter was $90.146 billion. This is an increase of 8% compared with $83.360 billion in the same period last year. Its net profit was $20.721 billion. The company’s diluted earnings per share were $1.29. This is an increase of 4% compared to $1.24 a year earlier. Apple’s fourth-quarter revenue in Greater China was $15.470 billion, an increase of 6% compared with $14.563 billion in the same period last year. The company is doing quite well and makes a lot of money from its loyalist fanbase. The company will probably continue to dominate for some years.