Apple Music hits record revenue in Apple’s latest quarter
Apple Music has delivered its strongest revenue quarter yet, as Apple’s wider Services business continues to grow.
Apple Music has recorded its highest-ever quarterly revenue, according to Apple’s latest financial results. The milestone was confirmed during the company’s fiscal Q4 2026 earnings call, covering the three months ending the 26th of September.
Digital Music News notes that Apple reported total quarterly revenue of $114.48 billion, up 12% year-on-year, with its Services division also reaching a new all-time high. However, the company hasn’t disclosed exactly how much revenue came from Apple Music, leaving some important details about its streaming performance unanswered.
Apple Music achieves new quarterly revenue record
During Apple’s earnings call, CFO Kevan Parekh confirmed that the company had achieved a “September quarter record in music”. No standalone revenue figure or updated subscriber count was provided for Apple Music.
The wider Services division, which includes Apple Music, Apple TV, iCloud and the App Store, generated $31.57 billion in revenue, up 9.8% year-on-year.
DMN reports that Apple’s latest results also show $82.90 billion in revenue from its products division, up 12.5% compared with the previous year. iPhone sales were a major contributor, generating $57.58 billion.
Apple also revealed that it now has more than 1.5 billion paid subscriptions across its services, with the figure growing by double digits during the quarter. This isn’t an Apple Music subscriber count, however, as it covers the company’s wider subscription ecosystem.
Apple Music’s position in the streaming market
While Apple doesn’t regularly disclose individual music streaming figures, external research offers some insight into its position against competitors.
MIDiA Research estimated that Apple Music ended 2025 with just over 116 million subscribers worldwide. As Music Ally reports, this placed it third globally behind Spotify and Tencent Music, although it ranked second when China was excluded from the comparison.
Apple’s latest performance comes amid growing competition for paying streaming subscribers. DMN points to Apple’s Family plans and Apple One bundles as potential contributors to its recent gains in the US market. These packages allow customers to access multiple services through a single subscription, giving Apple another way to encourage loyalty across its ecosystem.
The analysis also highlights competition from Spotify, particularly as it tightens its household-sharing rules for Family plans, and YouTube Music, which has continued to grow its paid subscriber base.
What Apple’s growth means for independent artists
Apple Music’s record quarter reinforces just how valuable subscription streaming has become to the wider music industry. But with Apple keeping its individual music revenue and subscriber figures private, it’s difficult to get a complete picture of how its growth compares with rival platforms or how that success translates across the industry.
As competition for subscribers continues, the next challenge for Apple and its competitors will be turning that growth into lasting listener loyalty. For artists and labels, the expanding streaming market offers plenty of potential audiences, but understanding where those listeners are and how they engage with music remains just as important.