Apple News+ could hit 19 million paid subscribers and generate US$2.2 billion in revenue by 2023. That’s according to Cowen analyst Krish Sankar in a note seen by AppleInsider.
Analyst Predicts Apple News+ Growth
Mr. Sankar predicted that by 2023, Apple News+ will see an annual growth rate (CAGR) of 31 percent. He wrote:
We believe Apple’s News app and the News+ paid subscription service (News platform) are well-positioned to not only benefit from incremental subscriber additions but also accelerating advertising revenue growth.
Mr. Sanker also noted the “disruptive event” of Apple’s incoming App Tracking Transparency privacy feature. He said that this combined with improving advertising platforms. Cowen’s model now predicts 36 percent Apple News adverting revenue growth over the next three years. That is up from 30 percent in the previous three years.