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App Store has Generated $50 billion in Revenue for Developers: Tim Cook

App Store has Generated $50 billion in Revenue for Developers: Tim Cook

Apple CEO Tim Cook has claimed that they have paid $50 million in revenue to developers. This is a 20% increase from the $40 million in January. Last year, the number was $30 million. He was talking at the Wordwide Developers Conference yesterday.

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Also the number of apps in the App Store has seen a significant increase to 2 million apps from 1.5 million apps same time last year. The total downloads has reached 130 billion.

Apple also overhauled the App Store revenue sharing model last week, now offering a developer friendly 85-15 split that are at least a year old and have subscriptions. This model replaced an 8 year old 70-30 revenue split model.

Another major development announced was that Apple would allow app creators to advertise search-related apps in the app store, thus giving users a chance to re-engage with apps.

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