Apple is making more revenue off the App Store alone in 2017 than it did in all of 2007, according to a new study that analyzed Apple’s money-printing app empire.
When the iPhone launched in 2007, Steve Jobs absolutely refused to let third-party apps on his beloved device. Fast forward ten years later and not it’s not just hard to imagine the iPhone without the App Store. It’s hard to imagine Apple being as profitable without it.
Revenue from App Store purchases in the first six months of 2017 was nearly 40% the total amount of revenue Apple brought in for the entire fiscal year of 2007 when the iPhone launched.
Based on data from the folks at SensorTower, App Store revenues during the first half of 2017 totaled about $4.8 billion. That’s 1.4 billion more than the $3.5 billion Apple brought in for 2007.
App Store revenue continues to be a growingly important revenue stream for Apple. From 2013 to 2016, App Store revenue grew from 1% to 3.4% of Apple’s total revenue. The App Store contributed $7.28 billion to Apple’s bottom lime in 2016, and it’s expected to be slightly higher in 2017 as Apple’s user base grows.