Growth for Apple (NASDAQ:AAPL) News+ has handily outpaced that of legacy media firms New York Times (NYSE:NYT), News Corp.'s (NASDAQ:NWSA) The Wall Street Journal and the Washington Post, according to Consumer Intelligence Research Partners.
As of March 2024, 24% of all buyers now subscriber to Apple's news subscription service, compared to just 15% in 2020, the research firm said in a blog post. The research firm only surveyed Apple device owners and did not disclose its sample size.
"One-quarter of the US base of Apple customers represents tens of millions of users, an enormous audience relative to what individual media outlets can expect on their own," CIRP wrote in the post.
In comparison, the New York Times increased its subscriber base among Apple device owners to 17% from 15% over the same time frame. The Journal increased the number of subscribers to 11% from 8%, while the Washington Post saw a similar jump, rising to 11% from 9%.
The Washington Post is owned by Amazon co-founder Jeff Bezos.
Stories from The Wall Street Journal and the Washington Post are available on Apple News+. The New York Times pulled out of its deal with
Apple in 2020, but announced a partnership with Apple for its sports publication The Athletic late last year.
Apple News+ is available directly for $12.99 per month or a part of the Apple One subscription bundle, which costs $32.99 per month.
Apple does not break down its Services revenue, but growth for the segment has been steadily gaining over the past several years. In its most recent quarter, Services hit an all-time high of $23.87B, up from $20.91B in the year-ago period.
The New York Times, The Wall Street Journal and the Washington Post did not immediately respond to a request for comment from Seeking Alpha.
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