Consumer Intelligence Research Partners (CIRP) says that in all the excitement over the launch of new iPhones and also Apple Watch and AirPods models, “we can’t forget Apple’s second-largest revenue source, the Services sector.”
These are Apple’s non-hardware businesses, and one can only imagine the gross margin. Among these, CIRP tracks consumer behavior for:
- iCloud storage, in various capacities depending on package
- Apple TV+, the video entertainment service, not the Apple TV hardware
- Apple Music, with streaming music
- Apple Fitness+, the fitness tracker with numerous other health-oriented features
- Apple News+, a news feed with thousands of media outlets
- Apple Arcade, its gaming app with a few hundred games, both exclusive to Apple and from other producers.
They are available individually and in bundles under the Apple One banner. There are other services that CIRP can’t track, such as commissions and processing fees on the App Store and Apple Pay credit card transactions.
Paid iCloud storage, which starts at $0.99/month, remains Apple’s most popular individual subscription service, according to CIRP. More than two-thirds of recent US Apple device buyers report paying for it in the past 12 months
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