Apple is looking to further accelerate the growth of its $50-a-year services business by offering discounts to customers who bundle offerings like Apple TV+ and Apple Music.
The initiative, reported by Bloomberg quoting inside sources, is called Apple One. According to the report, the service would be tiered, with more expensive iterations adding services like Apple Arcade, Apple News+ and iCloud storage to the base package of Apple Music and Apple TV+.
Apple One would offer savings in the range of $2 – $5 a month, the report said.
Apple One is reportedly set to launch later this year and is being spearheaded by Peter Stern, a top lieutenant of Apple services chief Eddie Cue. Notably, Apple is set to debut its latest iPhone in October, along with the newest iteration of its mobile device software, iOS 14.
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Since it launched Nov. 1, 2019, Apple TV+ has been a middling contender in the so-called streaming wars. Apple hasn’t released signup numbers for the SVOD service, but it’s believed that most of its users have come from a promotion that offers a year free of Apple TV+ (aka Apple TV Plus) to those who purchase new Apple devices such as iPhones.
However, in totality, the Apple services business is growing quickly, with the company touting a doubling of revenue for the business segment from 2016.
In pursuing Apple One, the Cupertino, Calif.-based tech giant is purportedly seeking to mimic the success of Amazon Prime, which has achieved a bedrock of steady subscription revenue for Amazon by bundling a variety of music, video streaming and other services to a core of free shipping of retail goods.