Apple's Services Earned $78B in Fiscal 2022, Up $10B Year Over Year
Apple's services category, which encompasses the App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple Arcade, Apple Fitness+, iCloud+, and more, earned a total of $78 billion in revenue in fiscal 2022, according to today's earnings results for the fourth fiscal quarter of the year.
The services category earned $19 billion during the quarter, up almost a billion from the $18 billion earned in the year-ago quarter. Services overall earned $10 billion more in 2022 than in 2021, with Apple seeing strong growth. Services subscribers have increased significantly, with Apple reporting more than 900 million paying subscribers, up 155 million since last year.
Apple earlier this week said that it is going to increase the price of Apple TV+ and Apple Music, with individual Apple Music subscriptions increasing by $1 and Apple TV+ subscriptions increasing by $2.
Apple One Bundles have also increased in price by $2 to $3, with Apple blaming the Apple Music price hikes on licensing fees and the Apple TV+ increase on its growing catalog of content.
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