Apple on the hook for $16 billion revenue loss, and Netflix is to blame

Apple's CEO Tim Cook loves to brag at conference calls with investors that the revenue and profits from its "services" business is growing leaps and bounds, far outstripping the revenue growth in its bread-and-butter iPhone department. The App Store alone is now a Fortune 100 company by itself, raking in more than, say, the whole McDonalds franchise last year.

What Tim Cook fails to mention, however, is that a huge chunk of the App Store revenues is coming via the 30% cut (15% after the first year) Apple takes from subscription service providers like Netflix or HBO. With ...

Source PhoneArena https://ift.tt/2nYGFSf
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