Apple paid subscribers could reach to billion by 2023

Apple paid subscribers increased significantly. “We now have over 860 million paid subscribers across our platform, which is up more than 160 million in the last year alone,” Cook added.

During Apple’s third-quarter earnings call, Maestri stated that the company had over 860 million users, an increase of 160 million in just the previous year. Apple does not break down subscriber figures per service, although Maestri stated that growth was robust in offers such as Apple TV+ and Apple Arcade.

On the company’s results conference, Apple CFO Luca Maestri noted, “The record level of success of our services portfolio during the June quarter underscores the strength of our ecosystem on many fronts.” “First and foremost, our install base has increased to an all-time high across every geographic group and key product category.” During the quarter, we also experienced increasing consumer interaction with our services from transactional accounts, paying accounts, and accounts with paid subscriptions. All climbed by double digits year over year, with premium subscriptions showing particularly high growth.”

In terms of the remainder of Apple’s third-quarter data, iPhone revenue increased marginally year over year, from $39.5 billion to $40.7 billion — a 3% increase over the same time period in 2021. While the company’s overall performance exceeded Wall Street projections, results in some areas were mixed. For the quarter, the Mac, iPad, and the combined wearables/home category all saw losses.

If Apple maintains this rate of growth over the following 12 months, it might reach one billion paid customers as early as next year.

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