New Delhi:Apple made a record $64 billion in revenue from its App Store in 2020, 28 per cent increase from an estimated $50 billion the tech giant generated from the App Store in 2019.
According to an analysis by CNBC, this marks a solid growth for the App Store since the estimated increase between 2018 and 2019 was only 3.1 per cent.
Apple made $48.5 billion in 2018 from its App Store.
"App Store sales growth accelerated strongly during the Covid-19 pandemic," the report said on Friday.
Apple's App Store reported $53.7 billion in sales in Apple's fiscal 2020, which ended in September.
Beginning this year, Apple is charging smaller developers who make less than $1 million per year on its platforms 15 per cent fee, instead of 30 per cent.
If a participating developer surpasses the $1 million threshold, the standard commission rate will apply for the remainder of the year, Apple said.
If a developer's business falls below the $1 million threshold in a future calendar year, they can requalify for the 15 per cent commission the year after.
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Apple said the new "App Store Small Business Programme" will benefit the vast majority of developers who sell digital goods and services on the store, providing them with a reduced commission on paid apps and in-app purchases.
Apple doesn't disclose how much revenue its App Store makes per year.
The company has paid developers $200 billion since 2008, up $45 billion from the figure that was announced in January 2020.
"If that's equal to 70 per cent of App Store sales, then the App Store grossed around $64 billion last year."
Despite the Covid-19 pandemic that affected Apple's retail operation globally, the company has exceeded its internal financial targets in the past fiscal year.
(IANS)
