Apple App Store made about 1.1 billion over the holidays

In between Dec 20 and Jan 3, Apple said that customers purchased about $1.1 billion worth of app and in-app purchases which is a new record. Last year, Apple made about half a billion dollars in revenue. In 2015, customer spent a total of $20 billion on app purchases like Minecraft, Trivia Crack, as well as social networks such as Facebook Messenger and Snapchat. All in all, gaming and subscription apps did the best, like Clash of Clans and Hulu.

Not only has it been creating revenue, Apple has definitely seen growth in jobs. According to the new Progressive Policy Institute Report by Michael Mandel, Apple said it created 1.9 million jobs in the U.S., including 1.4 million through the App Store for developers, entrepreneurs, and some non-IT staff.

The App Store has consistently been the selling point for Apple products. This is a ray of hope because iPhone sales- the largest source of company profits- are expected to drop. Analysts do see revenue decreasing for 2016. Steve Koenig, a Consumer Technology Association market researcher, said that a number of factors, including a strong dollar and weak economies in parts of the world that had been driving new tech spending, indicate that 2016 will be a slower year for global tech spending overall.

The App Store will still continue to provide Apple with a distinguishable selling point because it helps keep customers coming back and gets them to buy more Apple products. Even more, Apple just launched a version of the App store for the Apple TV, expanding its presence to the family room.

Article via Washington Post, January 6, 2016

Photo: Apple. Tree. via Stuart Maxwell [Creative Commons Attribution-NonCommercial-NoDerivs]