Apple Paid Subscribers Grew by 100 Million From Year Ago

(Bloomberg) -- Apple CFO Luca Maestri said the App Store is the biggest driver of Apple’s services business, which saw strong year over year growth. He also said in an interview with Bloomberg News that the company has 270 million paid subscribers -- across applications and its own services, which is up 100 million year over year, and 30 million quarter over quarter.

In a separate interview with Bloomberg Television, CEO Tim Cook said there’s still plenty of room to grow in the world of music streaming subscriptions.

“If you add up subscribers, you get to a very small number relative to the world’s population, so the big challenge is not competition with each other, it’s convincing a lot of people that don’t subscribe to a streaming service to subscribe to one,” Cook said.

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To contact the reporters on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.net, Ian King in San Francisco at ianking@bloomberg.net.

To contact the editors responsible for this story: Anny Kuo at akuo1@bloomberg.net, Colin Keatinge

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