30 January 2019
Apple has stated that developer earnings have reached a record $120 billion since the launch of the app store in 2008. The company stated that developers earned nearly a quarter of the money in the past year alone. The earnings are without Apple’s own 30% cut of the revenues.
In the last year, developers earned $30 billion in revenue. The number is 28% higher than the $26.5 billion Apple said it shared with developers in 2017 and 30% higher than the 2016 number. Apple charges a 30% commission on the app and in-app purchases and lowers the fee to 15% for subscriptions after the first year. Developers and others have been pressuring the Cupertino giant to further lower its App Store commissions.
The Cupertino giant inaugurated the "Entrepreneur Camp" with 11 female-founded app development companies, on Monday and stated that the two-week program will provide female app creators with the tools needed to thrive in the global app economy.
“The App Store is the new digital main street, and creative developers are tapping into the vast potential of the global app economy," said Esther Hare, Apple's Senior Director, Worldwide Developer Marketing and executive sponsor, Women@Apple.
"In the past, starting a small business often meant having to invest in overhead, inventory or retail space. Today, a world of opportunity opens up with some coding skills and an entrepreneurial spirit," said Hare.