The Apple App Store has paid out $70 billion to developers since the store launched in 2008, Apple announced. Since the company takes a 30% cut of sales, the store has brought in more than $100 billion in less than a decade.
With more people using smartphones, the store has only grown in size. Downloads from the App Store grew 70% just in the past 12 months, partly due to software in the Gaming and Entertainment sections.
People everywhere love apps and our customers are downloading them in record numbers. Seventy billion dollars earned by developers is simply mind-blowing. We are amazed at all of the great new apps our developers create and can't wait to see them again next week at our Worldwide Developers Conference.- Phil Schiller, Apple
Apple announced in its quarterly earnings results last month that App Store revenue had grown 40% year-over-year.
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