What you need to know
- Apple added 165 million subscribers to its services business over the last year.
- The company now has 785 million paid subscribers across its services.
Apple added a ton of paid subscribers to its services businesses over the last year.
Today, the company announced its Q1 2022 earnings on a call with investors and the press. On the call, Apple CFO Luca Maestri revealed that the company now has more than 785 million paid subscribers across all of its services businesses.
Maestri noted that the company added 165 million paid subscribers for its services in the last year alone. This all happened as the company recorded $19.5 billion in revenue in the first quarter of 2022, an increase of 24% year-over-year.
Turning to services as I mentioned we reach an all time revenue record of 19.5 billion up 24% with all time records for cloud services, for music, video, advertising and payment services and a December quarter record for the App Store. These impressive results reflect the positive momentum we're seeing on many fronts.First, as I mentioned before our installed base has continued to grow and has reached an all time high across each geographic segment and major product category. Next we continue to see increased customer engagement with our services. The number of paid accounts on our digital content stores grew double digits and reached a new all time high during December quarter in every geographic segment.Also paid subscriptions continue to show very strong growth. We now have more than 785,000,000 paid subscriptions across the services on our platform, which is 165,000,000 during the last twelve months alone. And finally we're adding new services that we think our customers will love and we continue to improve the breadth and quality of our current service offerings. Just in this last quarter we have added incredible new content on Apple TV+ on Fitness+ and Apple Arcade and a brand new way to listen to music with Apple Music Voice. We also announced in November the beta program for Apple Business Essentials.
You can learn more about what was said on the call with our coverage of the call transcript.
