LAST UPDATED: June 16, 2020, 012:00 p.m. EDT: Apple touted about the iOS app store, citing a report that App Store created $519 billion in sales globally in 2019 alone. In a press release published on apple’s newsroom yesterday, The company explored a revenue report by economists at Analysis Group.
The study found that sales from physical goods and services on the apple store accounted for the largest share, at $413 billion (out of $519 billion). App store’s m-commerce apps generated the vast majority of sales, and of those, retail was the largest, at $268 billion. The report says that just $61 billion constitutes digital items the company may receive a 30 percent cut of (or 15 percent in the case of longer-lasting subscriptions).
Other notable data points in the report are:
- Ride-hailing apps, including Uber and Lyft, comprised $40 billion in sales
- Travel apps, including Expedia and United, accounted for $57 billion
- Games were the most downloaded type of app in 2019
- Food delivery apps, including DoorDash and Grubhub, made up $31 billion
- In-app advertising sales accounted for $45 billion, 44 percent was derived from games.
- Billings and sales from digital goods and services comprised $61 billion, and this category included apps for music and video streaming, fitness, education, ebooks and audiobooks, news and magazines, and dating services, among others.
- In-app advertising sales accounted for $45 billion, 44 percent was derived from games.
According to apple:
The results encapsulate the full sweep of the dynamic, competitive, and flourishing app economy, which has unleashed a torrent of innovation across 175 countries and revolutionized the way the world learns, works, and connects.
This press report is released after, the company is under tough regulatory surveillance in Washington. iOS App Store is the home of 2 million apps. The number of visitors who visit the app store is almost half a billion. The Apple Developer ecosystem supports almost 23 million developers worldwide, who are earning due to the app store.
Apple CEO Tim cook praised apple saying that “the App Store provides enduring opportunities for entrepreneurship, health and well-being, education, and job creation, helping people adapt quickly to a changing world”
Critics find this report as a tactic to be good in the eyes of investigators. Many tech companies including apple are under the radar of surveillance on allegation of creating a monopoly. They conclude with the summary that apple tried to boast that he is contributing a lot to the economy.
Comments 1