Connected Economy Today: Other Apple Revenue

Today, in the connected economy, new research shows that Apple’s music and game sales could exceed $8 billion by 2025.

Additionally, Amazon picks a California city to test its Prime Air drone deliveries, and Buy Now Pay Later (BNPL) provider Affirm partners with travel website Agoda.

Apple Music and games could generate $8.2 billion by 2025

Apple’s music and gaming-related sales revenue could reach $8.2 billion by 2025, according to new research by JPMorgan analysts.

That number, which represents an increase of 36%, would be driven by a subscriber base of around 180 million people: 70 million in games and 110 million in music.

About $7 billion of that revenue would come from Apple Music, with the rest coming from Apple Arcade, the game subscription service that debuted in 2019.

Apple doesn’t give a breakdown of sales of gaming and music services, it reported $19.8 billion in revenue for the quarter that ended in March.

Amazon to test Prime Air deliveries in California

Amazon has chosen residents of the city of Lockeford, California, to be among the first customers to receive drone deliveries through its Prime Air service.

“Lockeford has historical ties to the aviation industry,” the retail giant said in its announcement. “The community boasts one of the early aviation pioneers, Weldon B. Cooke, who built and flew the first airplanes in the early 20th century, as a former resident. Now, more than a century later, residents will have the opportunity to sign up for free drone delivery of thousands of everyday items.”

Amazon said it will use residents’ feedback on the delivery service to help determine the future of Prime Air. The company said the launch also comes with an investment in Lockeford, including the creation of new jobs, as well as partnerships with community groups.

Affirm, Agoda will provide BNPL travel bookings

Approved travelers who book hotel stays on Agoda’s platform will receive a buy now and pay later option from the BNPL Affirm provider under a new agreement between the companies.

For hotel stays of $50 or more, guests will have the option to make interest-free payments every two weeks or once a month through Affirm’s Adaptive Checkout.

“Launching pay-over-time options with Affirm will allow travelers in North America, who previously would have found it inconvenient to pay for their reservation in one lump sum, to spread costs over multiple payments without incurring compound interest. or additional costs. said Agoda CFO Thi-Mai-Linh Bui.

Virgin Money partners with SurePay on CoP solution

Payment information company SurePay has joined forces with Virgin Money to help the company use its UK Confirmation of Payee (CoP) solution to protect users against fraud and misdirected payments.

The companies said the solution lets consumers know their payments are reaching the intended recipient, rather than being misdirected or deliberately diverted. SurePay said its algorithm is designed for CoP and operates in accordance with UK payment guidelines.

“We are committed to protecting our customers from fraud, and Payee Confirmation is a valuable tool in doing so,” said Fergus Murphy, Virgin Money’s chief customer experience officer.

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DATA OF NEW PAYMENTS: THE TAILOR-MADE PURCHASE EXPERIENCE STUDY – MAY 2022

On: PYMNTS’ survey of 2,094 consumers for The Personalized Shopping Experience report, a collaboration with Elastic Path, shows where merchants are doing well and where they need to up their game to deliver a personalized shopping experience.

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