Apple's services category set an all-time quarterly revenue record of just over $8.5 billion in Apple’s fiscal 2017 fourth quarter that ended Sept. 30. The category includes the App Store, iTunes Store, Apple Music, Apple Pay, AppleCare, licensing fees, and more.
The success of Apple Music continued to build in in Apple’s fiscal 2017 fourth quarter that ended Sept. 30. According to according to Apple Chief Financial Officer Luca Maestri, the streaming service saw the highest conversion rate from customers trying the service.
Revenue from Apple Music grew strongly in the September quarter, Maestri said. The number of paid subscribers was up nearly 75% year-over-year.
The Apple App Store set a new all-time record. According to App Annie's latest report, it continues to be preferred destination for customer purchases by a wide margin, generating nearly twice as much revenue as Google Play store, notes Maesstri.
The iCloud business saw strong double-digit growth in monthly average users and revenue. Paid subscriptions for all of Apple’s subscription services reached 210 million at end of September quarter; that’s an increase of 25 million in last 90 days
Apple Pay expanded to Denmark, Finland, Sweden, and UAE last month, and continues to grow rapidly, Maestri said. Active users have more than doubled in last year. Over five million US merchants will be Apple Pay-enabled by end of 2017.