The number is crazy for sure but then it includes stuff like the $0.99/mo iCloud storage subscription which is basically mandatory if you own an iPhone. Would be far more interesting to see the broken-out numbers for Apple Music, TV+, Apple One etc. if they ever share them.
Even if all 700 million subscribers are $0.99/month it is still an $8.3 billion per year business. That's enough to be #362 on 2021 Fortune 500.
If you really drill into all the different numbers they release over time as investment / corporate strategy analyst you can get a pretty reasonable mix on revenue streams this size.
I don't dig in on Apple as I'm a B2B focused person so speculating a bit here based on parallel experience.
I don’t know why this comment is downvoted?
My parents, in their late 60s and the opposite of tech savvy, have an iCloud storage subscription. The default 5 gigabyte is laughable small.
