Apple's services business is reportedly closing in on one billion paid subscriptions, nearly double the number it had just three years ago, according to CEO Tim Cook. During the company's conference call to discuss its recent financial results for the second quarter, Cook revealed that Apple now has over 975 million active paid subscriptions across its platforms, with the services segment exhibiting steady growth in the second quarter. Services generated $20.9 billion in revenue, up from $19.8 billion in the first quarter.
Apple has begun warning subscribers that access to its services will soon increase in cost. Apple Music, Apple TV+, and Apple One subscribers are receiving emails a month in advance of price increases, giving them time to continue or cancel their automatically renewed subscriptions. Price increases range from $1 per month to $3 per month for some family plans.
The silver lining is that Apple TV+ now offers more original content than ever, and higher licensing costs for Apple Music means artists should receive a larger slice of the profits.
Apple One delivers multiple Apple services in a single subscription. Bundles include Apple Music, Apple TV+, Apple Arcade, and iCloud storage.
By purchasing an individual Apple One bundle, customers can save over $6 per month over the same services à la carte. Family plans offer savings of over $8 per month.
It was a big week for Apple after delivering its all-virtual "Time Flies" media event on September 15. Both iOS 14 and watchOS 7 were rolled out to customers, and Apple launched several new products. Apple fans looking for a glimpse of the iPhone 12 lineup will have to wait a little bit longer, with the release delayed until next month. Despite not revealing a new iPhone the Apple event had plenty to offer.
Apple offers Apple One to bundle various subscriptions to its services together. Bundles provide one-stop shopping for users and can save money over individual subscription costs.