Apple generates USD 64 bn revenue from App Store in 2020

Jan 11 2021 05:30 PM
Apple generates USD 64 bn revenue from App Store in 2020

Tech giant Apple made revenue of total of USD 64 billion through its App Store in 2020, showing 28 per cent increase from an estimated USD 50 billion that the tech giant generated in 2019. Though it is difficult to determine the exact reason for this spike in growth, a sharp increase in growth can be attributed to the fact that people did purchase more games online owing to the worldwide lockdown due to the corona pandemic.

According to The Verge, this growth in 2020 represents a good amount of growth for the company's App Store because the estimated increase between 2018 and 2019 was only 3.1 per cent.  The American tech giant witnessed a 30 per cent cut of most of the money coming into the App Store, which, while there are caveats and exceptions, represents billions of dollars of revenue. 

Every year, Apple reports how much money it has paid out to developers since 2008.

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