Apple Services Hits 390 Million Paid Subscriptions

Paid subscriptions for Apple Services business reached a record high of over 390 million at the end of March - an increase of 30 million in the last quarter alone, the company's CEO Tim Cook has said.

"Subscriptions are a powerful driver of our Services business. We reached a new high of over 390 million paid subscriptions at the end of March, an increase of 30 million in the last quarter alone," Cook told analysts during the earnings call on Tuesday,

"In fact, we had our best quarter ever for the App Store, Apple Music cloud services and our App Store search ad business and we set new March quarter revenue records for AppleCare and Apple Pay," he added.

Apple Pay transaction volume more than doubled year-over-year.

"We're on track to reach 10 billion transactions this calendar year. Apple Pay is now available in 30 markets and we expect to be live in 40 markets by the end of the year," Cook announced.

Beginning in mid-May, the all-new Apple TV app will bring together the different ways to discover and watch shows, movies, sports news and more in one app across iPhone, iPad, Apple TV, Mac, smart TVs and streaming devices.

"Coming this fall, Apple TV+ will be the new home for the world's most creative storytellers, featuring exclusive original shows, movies and documentaries," Cook said.

The company recently announced Apple Arcade - the world's first game subscription service for mobile and desktop.

"With over 100 new games, all with no ads or ad tracking, no additional purchases and respect for user privacy, we've created a service for players of all age's, kids to teens to adults and one that families can enjoy together," Cook added.