Apple’s App Store Broke Records following the Holiday Season

Apple, Inc. (NASDAQ: AAPL) App Store reported breaking purchasing records on New Years Day, with $300 million spent, marking the highest sales day since the launch back in 2008. Last year’s same day results were a bit lower, coming in at $240 million in purchases. This year’s holiday season marked a high performance where customers spent $890 million on apps that were mostly driven from gifted smartphone devices. Consumers has then spent most of their money on new apps, games, and subscriptions.

Last year, Apple paid out $26.5 billion to developers which was a 30% year over year increase from the year prior. Since the App Store’s launch, the company has also paid iOS app developers over $86 billion, accounting for the strong performance over every holiday season. This includes new discoverability features that was introduced last year, making iOS a preferable development platform. The new iOS 11 operating system launched back in September also drove sales with enhanced changes and new features including “App of the Day”. App downloads have increased, boosting up to 2,172%.

Leave a Comment