Apple’s subscription business is about to explode

[Andy Meek]

• A new analyst report suggests that Apple might soon add subscription tiers to a number of existing iPad and iPhone apps.
• Loup Ventures thinks that Apple might soon add services like Podcasts+, Stocks+, and Maps+ to the likes of Apple News+, Apple Music, and Apple TV+.
• Back in the fall, Apple launched the new Apple One subscription bundle that packages different iOS apps together, in various combinations, since paid subscription products are now so big a component of Apple's overall business that it's tantamount to the revenue of a Fortune 50 company all by itself.

This is not a perfect comparison, but one way to understand what a powerhouse Apple's subscription business has become thanks to products like Apple TV+ and Apple Music is to consider how quickly the latter has grown relative to its rivals.

A new Loup Ventures report, for example, highlights the rapid clip at which Apple Music has racked up paying subscribers relative to Spotify. While it took Spotify 14 years to accumulate 144 million paid subscribers, Apple notched more than half of that (85 million) in five years. In fact, Apple has built a gigantic subscription business on top of services like that app, to the point that the iPhone maker's services are now tantamount to the size of a Fortune 50 company by revenue. And Loup Ventures thinks Apple is about to double-down along these lines, predicting in its new report (h/t MacRumors) that Apple will look to extract even more revenue by essentially building subscription tiers on top of default iPhone apps like Mail and Podcasts.

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Apple’s subscription business is about to explode originally appeared on BGR.com on Mon, 11 Jan 2021 at 10:02:10 EDT. Please see our terms for use of feeds.

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