Could Gaming be the Answer to Apple's Stalling Growth?
Apple may soon jump into the gaming market as it has been reported to be working on a subscription service that would charge users a recurring fee to access a selection of video games.
Cheddar's recent report does not clarify what kind of games the service would feature, of whether it will focus solely on mobile titles.
Apple's offering could connect users to games they can download for a monthly fee, or operate as a kind of cloud gaming service in which you can play games that would otherwise require a high-end PC or console on your smartphone or tablet.
In any case, such a service could reignite consumers' interet in Apple, as the company turns its attention to building up that side of its business to offset the slowdown in iPhone sales growth.
With roughly 2 billion iOS devices shipped worldwide, Apple has a solid user base in place for its services. In Q4 2018, the company reported services revenue of $10 billion.
Apple's services business is currently made up of iTunes, the App Store, Apple Music, iCloud, and Apple Care. A planned streaming video service could add a significant boost to services.
The video game industry has seen immense growth in recent years thanks, largely, to the launch of mobile smartphone and tablet games. Traditional console and PC games have also seen a boost, but mobile has certainly led the charge.
Nvidia, Microsoft, Sony, Google, and Verizon are also some of the tech industry giants that offer or are developing subscription game services.