Why Isn't Apple's Paid Subscription Growth Accelerating?
Like clockwork, Apple (NASDAQ: AAPL) has added 30 million paid subscriptions to its services business for nine consecutive quarters. At the end of 2019, the company boasted 480 million paid subscriptions, which puts it on track to hit 500 million (a target set last year by CFO Luca Maestri) by the end of this quarter. With that goal within reach, Maestri set a new one of reaching 600 million paid subscriptions by the end of 2020. That implies another 120 million paid subscriptions added this year -- the same 30 million per quarter.
Given all the new first-party services Apple has been introducing as part of its services push, why isn't paid subscription growth accelerating?
Apple Arcade has been "fast off the blocks," according to CEO Tim Cook. Image source: Apple.
Source Fool.com
