Apple App Store Grossed Over $64 Billion in 2020 [Report]

Apple App Store Grossed Over $64 Billion in 2020 [Report]

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Apple's App Store grossed over $64 billion in 2020, according to a new report from CNBC. That's up from an estimated $50 billion in 2019 and $48.5 billion in 2018.

App Store revenue grew 28% in 2020, up from 3.1% growth in 2019, according to CNBC’s analysis. Apple’s App Store is a core growth area for the company. It’s reported as part of Apple’s Services division, which reported $53.7 billion in sales in Apple’s fiscal 2020, which ended in September.

The $64 billion number is based on Apple's announcement this week that it had paid developers $200 billion since 2008. That's up $45 billion from the figure announced last year. CNBC notes that Apple takes a 30% cut from most App Store transactions so that $45 billion would represent 70% of gross revenue.

Apple recently announced that it would reduce its 30% take to 15% for developers who made less than $1 million USD in 2020. However, it's unlikely this will have a major affect on the company as the top 1% of apps are estimated to generate 93% of App Store revenue. More details on the new program here.

Hit the link below for the full report...

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Apple App Store Grossed Over $64 Billion in 2020 [Report]

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