Apple is making bigger announcements as the big day , WWDC (Worldwide Developers Conference) is approaching , prior this week we saw a new line-up of Macs and PCs and Apple Music Classical app (cores around the classical European music) which Apple is going to be descriptive about in the event. Now, Apple has disclosed the earnings of App Store Ecosystem for the year 2022. The figure stands at $1.1 Trillion in developer billings and sales. This study was conducted this by Economists of Analysis Group.
Comparing to its previous year’s profit , it has been observed that a hike of nearly 29% in sales has been observed in the ecosystem. In Europe, developers’ billings and sales since 2019 saw an above average increase of 116 percent. Stats also reveal the fact that 90% of the profits earned were done by developers and businesses who even didn’t have to pay any commission to Apple. The collective figure of $1.1. trillion is divided into sub-parts like-:
- Sale of Physical Goods and Services -: $910 billion
- In-App Advertising -: $109 Billion
- Digital Goods and Services -: $104 Billion
Refocusing attention on a metric it often highlights, the marketplace showcases its significant contributions despite increasing concerns regarding the high expenses associated with conducting business. Typically charging a commission ranging from 15% to 30% on in-app purchases and paid downloads, albeit with certain exceptions, the platform strives to emphasize its positive impact.
We’ve never been more hopeful about — or more inspired by — the incredible community of developers around the world, As this report shows, the App Store is a vibrant, innovative marketplace where opportunity thrives, and we’re as committed as ever to investing in developers’ success and the app economy’s future.
Said Tim Cook, Apple’s CEO.
Moreover, recent findings from the Progressive Policy Institute reveal that the iOS app economy has become a vital source of employment, sustaining over 4.8 million jobs across the United States and Europe, with roughly 2.4 million jobs in each region. The reasons for such positive results which App Store has been able to achieve is due to its re-thinking about the needs of users in sectors like Traveling and Hail-riding or the investment done on apps like social media or retail apps in advertising of the brand.
