Apple has revealed that the App Store has helped facilitate more than $500 billion in sales.
Citing a new App Store study from independent economics at Analysis Group, Apple confirmed that it supported more than $519 billion in billings and sales last year alone, with ecommerce, digital goods and services, and in-app advertising coming out in top billing.
The study confirmed that direct payments made to developers from Apple were only a small part of the overall total of sales from other sources, like physical goods and services. And as Apple only receives a cut from billings associated with digital goods, more than 85% of the $519 billion revenue is distributed to third-party developers and brands around the world.
Speaking of the news, Apple’s CEO, Tim Cook, said that: “The App Store is a place where innovators and dreamers can bring their ideas to life, and users can find safe and trusted tools to make their lives better. In a challenging and unsettled time, the App Store provides enduring opportunities for entrepreneurship, health and well-being, education, and job creation, helping people adapt quickly to a changing world. We’re committed to doing even more to support and nurture the global App Store community — from one-developer shops in nearly every country to businesses that employ thousands of workers — as it continues to foster innovation, create jobs, and propel economic growth for the future.”
$413 billion of the revenue was made up of physical goods and services that were sold inside of iOS apps. Inside of that category, mobile commerce generated $268 billion. Retail apps from brands like Target and Best Buy made up the rest of the physical goods sales.
Some interesting statistics from the latest report:
- Travel apps accounted for $57 billion
- Ride-hailing apps generated $40 billion in sales
- Food delivery companies generated $31 billion in revenue
- Digital goods and services generated $61 billion combined
- In-app advertising sales accounted for $45 billion
Are you surprised to see just how successful the App Store and the iOS ecosystem is? Let us know your thoughts on social media and check back soon for more news and rumors.