Peter Stern, who oversees Apple's paid subscription services including Apple TV Plus, will depart the company at the end of January.
According to Business Insider, Stern — who operates under the title of VP of services — has told colleagues he wants to spend more time on the East Coast.
Stern was previously a New York-based chief product, people and strategy officer for the erstwhile Time Warner Cable, joining Apple in June 2016 as the cable company was being merged with Charter Communications.
Apple discloses few metrics about its subscription services business, but it does indicate they're currently growing, garnering 5% revenue growth to $19.9 billion for the fiscal quarter ending in September. However, that represented a significant deceleration from the same period between 2021 - 2022, during which revenue grew by 26%.
Stern is credited with getting Apple TV Plus into the sports rights business, leading negotiations with Major League Baseball for Friday Night Baseball, among other endeavors. In addition to Apple TV Plus, Stern helped build Apple subscription products including Arcade, Books, and Apple One, News Plus, Fitness Plus and iCloud Plus.
Stern had also been seen by many to be the heir apparent to Apple services business czar Eddie Cue.
Upon his departure, his oversight will be split into three separate divisions, Business Insider said, with Apple Music chief Oliver Schusser heading one of those units. ■
