Apple Services

Last quarter, Apple's services business reached an all-time revenue high of $22.3 billion. That's more than twice the size of Netflix's sales. More importantly, services accounted for 40% of Apple's gross profit despite being only 25% of the group's revenues.

There are now 2 billion active Apple devices, after 150 million (+8%) were added in the last year.. All these users are becoming more and more engaged which results in higher spending per device.

I will be locked in for life, it seems. I pay the monthly family package fee of R230, which gives me 200GB of cloud storage, Apple TV, Apple Music and Arcade. I do not use Arcade but the other features are incredible value for money.

I grew up in a time when 1 CD cost R100, to develop a camera reel of 50 photos cost R100 and to rent a movie at the video store cost R30. R230 a month for unlimited access to photos, music and video sounds good to me!