App Store shatters revenue record on New Year's Day | Cult of Mac

App Store shatters revenue record on New Year’s Day

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New Year's apps
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Photo: Ste Smith/Cult of Mac

2018 is already starting to look like a historic year for Apple after the company just broke the record for the most revenue pulled in by the App Store in a single day.

Apple revealed today that iPhone and iPad customers spent an astounding $300 million in the App Store on New Year’s day, shattering the previous record of $240 million.

In its blog post, Apple says that during the seven-day period that started on Christmas Eve, customers spent $890 million on purchases, apps and in-app purchases.

The App Store and other services have become an increasingly important revenue stream for Apple over the last few years. Apple’s services — comprised of the App Store, iTunes, Apple Music and iCloud — now generate enough revenue to be a Fortune 100 company if Apple spun them out into a separate business.

“We want to thank all of the creative app developers who have made these great apps and helped to change people’s lives,” said Phil Schiller, Apple’s senior vice president of Worldwide Marketing. “In 2017 alone, iOS developers earned $26.5 billion — more than a 30 percent increase over 2016.”

There are now over 2,000 apps that are powered by ARKit which was just added as part of iOS 11. The fall update also included an updated App Store UI that was made with an aim of increasing discoverability of new apps.

Apple says that since the App Store launched in 2008, over $86 billion has been paid out to developers.