Apple Music and Games will generate more than $8 billion in revenue by 2025: JP Morgan

Apple Inc’s revenue from gaming and music offerings is expected to rise 36% to $8.2 billion by 2025, JPMorgan said on Monday, as the iPhone maker taps into its huge user base to boost its subscription services. . The two services are likely to have a combined subscriber base of around 180 million by 2025 (110 million for music and 70 million for games) driven by the rapid expansion of the Internet and a booming gaming industry, according to JPM analysts. , led by Samik. Chatterjee. Apple Music, which launched in 2015 and is the second-largest streaming music service after Spotify Technology, is expected to account for a larger share of that revenue, grossing about $7 billion by 2025, the brokerage said. Apple Arcade, the game subscription service launched in 2019, is estimated to gross $1.2 billion. The best of Express PremiumTop qualityThe history of sun worship in India: a cult in declinePremiumThis way to Rashtrapati Bhavan: BJP has the numbers, but why is it...PremiumTotally illegal, says former Allahabad High Court CJ;  bulldozer cases in the...Premium Apple did not immediately respond to a request for comment. The company doesn’t provide a breakdown of game and music service sales, but the overall segment, which includes the App Store, Apple TV+, Arcade and Apple Music, reported revenue of $19.82 billion in the March quarter. The business is seen as the engine of expansion for Apple. Chatterjee, who has a five-star rating for his estimated accuracy at Apple by Refinitiv Eikon, expects the size of the gaming market to reach $360 billion by 2028 and music streaming to reach $55 billion by 2025.