At an event last week that focused primarily on the launch of two new iPads, Apple CEO Tim Cook revealed some updated milestones for his company’s app store:
- Cumulative app downloads have surpassed 60 billion. That means cumulative app downloads, the total number of apps downloaded since the inception of the app store, have grown 50% in the first 10 months of 2013.
- There are now over 1 million apps available in Apple’s App Store.
- Apple has paid out over $US13 billion to app developers to date.
- Since Apple pays out 70% to developers and keeps 30% of revenue, that equates to roughly $US18.5 billion in total app store revenue, which is roughly 86% growth year-to-date.
These milestones look great on paper, putting them into context makes them even more impressive.
In June, we discovered that Apple’s app store generated roughly the same amount of total revenue in the first six months of 2013 as it did in all of 2012, with about $US4.3 billion in new revenue.
Well, Apple App Store has also managed to match that revenue total in the four months from June to October.
It’s a similar story for app downloads.
Since January, app downloads for 2013 alone have reached about 20 billion. To put this number into perspective, it’s equal to about half of the cumulative app store downloads since its launch in July 2008 and through January 2013.
It’s unclear what’s causing the acceleration in downloads, but it could be tied to the success of Apple’s strategy of selling high-end devices that encourage heavy usage, the increased penetration of iPads, and faster 4G LTE networks in many markets, which allow users to download apps on the go.
Whatever the case, it’s a huge shot in the arm for a global app economy that had been underperforming expectations up until this year.
Here we see cumulative Apple App Store revenues and developer payouts:
Here is Apple’s app store revenue for the 10 months between January and October, compared to results for previous full years:
Here is the latest four-month interval from June to October compared to previous six-month intervals:
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