Apple announced Thursday that it now has more than 1 billion paid subscriptions across its services, including Apple Music, iCloud, Apple News, Apple TV+ and more.
In simple math, that means billions in revenue, except hardware sales, which apparently are not doing so well compared to the first years of the iPhone's launch.
But Apple continues to methodically implement a long-term strategy of offsetting slowing hardware sales with revenue from software services — which now account for more than a quarter of the company's sales.
Apple's ad business is expected to reach $6 billion by 2025, making it bigger than both Snapchat and Twitter's ad business.
The last quarter also represented Apple's best ever software sales.
Overall, the company earned $21,2 billion from software services last quarter, up 8% year-over-year.
In comparison, iPhone revenue was down roughly 2% year-over-year, Mac revenue was down 7% year-over-year, and iPad revenue was down 20% year-over-year.
