At WWDC back in June, Apple CEO Tim Cook teased that the company was approaching the $50 billion milestone in money it had paid out to App Store developers. Today, Cook announced on Twitter that Apple has now paid over $50 billion to App Store developers, while also noting that July was a huge month for the platform.
On Twitter, Cook proclaimed that July was a record-breaking month for the App Store. Specifically, the App Store saw its highest-ever monthly billings, as well as the highest-ever amount paid back out to developers. It’s hard to believe that Pokémon Go didn’t play a large role in the App Store’s success for July. Just yesterday it was revealed that the game has already hit 100 million downloads and is earning up to $10 million per day.
Cook’s tweets come as Apple continues to spin itself as a Services company to investors. During the company’s third quarter earnings call last week, Tim Cook noted that Apple Store revenue was up 37 percent year-over-year, while the entire Services sector was up 19 percent. Additionally, Cook stated that Apple expects Services to be the size of a Fortune 100 company by next year. In addition to the App Store, Services consists of iTunes, Apple Music, Apple Care, and iCloud. Currently, Services accounts for 11 percent of Apple’s total revenue.
App Annie’s quarterly report last month also noted of the explosive growth the App Store has been experiencing over recent months. The report depicted the App Store’s continually increasing lead over Google’s Play Store in revenue, while China has also become an ever-growing market for the platform.
Apple noted of another milestone recently, announcing last week that it had officially passed the mark of 1 billion iPhones. In January of this year, Apple said it had 1 billion total active devices, including iPhone, iPad, Mac, iPod touch, Apple TV, and Apple Watch. At that point, Apple was sitting around 900 million iPhones.
With the success of apps like Pokémon Go, it’s clear that there’s still a huge opportunity for growth for the App Store. As Apple continues to combat declining hardware sales, expect Tim Cook to keep pumping out encouraging data like seen below:
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