“The vast majority of Apple’s revenue still comes from iPhones, Macs, iPads and other hardware,” Jan Dawson writes for Variety. “But its Services business has become its fastest-growing segment — and hidden within that unit is a content business that’s growing tremendously.”

“The segment includes iTunes, iBooks and the App Store as well as revenues from Apple Music, Apple Pay and money Google sends to Apple for featuring its search engine in its Safari browser,” Dawson writes. “It’s become the fastest-growing part of Apple’s business, averaging 20% growth year on year even as Apple’s iPhone business has shrunk a little.”

“It’s possible to arrive at some pretty decent estimates of the size of the constituent parts and, specifically, to break out the content business. That business generated about $15 billion in net revenue for Apple in 2016 — around 7% of its total revenues,” Dawson writes. “Apple could easily increase that spending if it becomes serious about a stand-alone subscription video offering.”

Read more in the full article here.

MacDailyNews Take: Apple’s “quarterly revenue number was roughly double CBS’ quarterly income,” according to Dawson. And, that’s with an aged, non-4K Apple TV on the market and no original content of which to speak, yet. The sky’s the limit!

[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]