Apple Services Growth Has Music Breaking Its Own Records

first_img Email News Twitter Facebook Apple Services’ Growth Has Music Breaking Its Own Records Apple Music and iTunes content, software and services rake in $8.5 billion quarterly revenue, up more than a third from last yearPhilip MerrillGRAMMYs Nov 3, 2017 – 4:02 pm On Nov. 7 Apple announced its July through Sept. quarterly results, ending its 2017 fiscal year on a high note.Thanks to Apple services, including iTunes, Apple Music and other software, the company raked in a record $8.5 billion in revenue in this category over the last quarter, up 34 percent from the same time last year.Some of this success can be attributed to Apple Music’s paid subscriber base. Conversions from free to paid are better than ever. In September Apple Music confirmed its paid subscriber base of 30 million, and that has grown by 75 percent from the previous year. In addition, Apple Music’s original content such as James Corden’s “Carpool Karaoke” series and “Planet Of The Apps,” among other top performers, has been cited by Billboard as a potential driver of subscriptions.With TV know-hows Zack Van Amburg and Jamie Erlicht onboard to manage a reported $1 billion original content budget, it looks like Apple will continue its original programming efforts moving forward. The question is whether new content is rolled out via Apple Music or another video platform.Apple CEO Tim Cook said, “We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for services.”Pandora’s $80 Million Q3 Earnings Tops App ChartRead more From iTunes, A Mighty Tree Is Growing Faster apple-services-growth-has-music-breaking-its-own-recordslast_img

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