iOS

Apple may bulk up services revenue with gaming subscription

Apple is keen on feeding its growing services beast quickly — CEO Tim Cook is looking for the company to reap in $50 billion in fiscal 2020, double its level in 2016. Some analysts fear that the company will lose grip if it can’t figure out a sustainable path for its foreign markets — a primary drag factor on what Cook himself expects to be a poor holiday earnings report coming tomorrow.

But nonetheless, new Apple services are coming your way this year. Sources to business network Cheddar report one of them is a gaming library, currently in early development. It’s not clear what audience this would target nor any specifics about the service itslf, but it is described as a “Netflix for gaming.”

Apple has declined to comment on the story and the plans could be shelved at any time.

Esports research firm Newzoo reports that mobile gaming will generated $100 billion in revenue by 2021 and the App Store is believed to be making most of its money off of game apps — through purchases of the app itself and in-game tools and currency.

Apple is also expected to soon release a subscription news service as well as original TV content for streaming.

Share This Post

Watch the Latest Pocketnow Videos

About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.