App Store brings Apple $ 64 billion in 2020

According to CNBC, Apple’s App Store has revenue of 64 billion USD in 2020, up 28% from an estimated $ 50 billion in 2019. App Store is on a very strong growth, compared with a growth rate of only 3.1% in 2018 – 2019.

It is difficult to give an exact reason for this sudden growth, but it may be related to the Covid-19 pandemic. Many users have had to live in isolation at home, so the demand for using applications, subscribing to services and playing games has also increased higher than normal.

When Apple releases its financial statements, App Store revenue is often combined with other services, which is also Apple’s fastest growing category.

Apple takes a 30% commission from all App Store payments. And Apple is very determined to defend this commission, despite recent stiff protests from major developers, like Epic or Hey.com.

However, Apple had to accept the compromise, reducing the 30% commission amount to 15%, for developers with annual revenue of less than $ 1 million. But even so, Apple’s App Store revenue won’t be affected much. Analysts estimate that the top 2% of developers on the App Store generate up to 95% of this app store’s revenue.

Reference: theverge