UPDATE: Apple to launch its subscription bundle, Apple One, on Friday
By Mike Murphy
Basic package will bundle Apple Music, TV+, Arcade and Cloud services for $15 a month
"We had customers coming to us and asking for an easier way to buy all of our services and we wanted to provide that, and we're looking forward to tomorrow to getting Apple One out there," Apple (AAPL) CEO Tim Cook said on Thursday's post-earnings conference call.
Prices for Apple One (https://www.apple.com/apple-one/) will range from $15 a month to $30 a month, with a 30-day free trial for new services. Included are access to its streaming-music service Apple Music, its streaming-video service Apple TV+, its online videogame service Apple Arcade and its storage service Apple Cloud. Higher-priced tiers will offer more Cloud storage and additional services, such as Apple News+ and the upcoming Apple Fitness+.
The services will still be available to subscribe to individually.
The bundle is expected to boost revenue for Apple's services segment, and provide Apple with another stable revenue stream that is less dependent on sales of new devices.
Apple reported Thursday that its fiscal fourth-quarter services revenue jumped to a record $14.55 billion (https://www.marketwatch.com/story/apple-posts-best-september-revenue-yet-but-stock-dips-in-late-trading-11604004000?mod=home-page) from $12.51 billion a year before, and Chief Financial Officer Luca Maestri said the company expected the services business to grow by double digits in the December-ending quarter.
Apple shares fell in extended trading Thursday, but are up 57% year to date, as opposed to the 6.6% decline this year by the Dow Jones Industrial Average , of which it is a component.
-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 29, 2020 20:07 ET (00:07 GMT)
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