It has been over 10 years since Apple launched the App store where IOS users visit to get various types of apps for their smartphone. An equivalent of the play store for Android users. The app store is a strong source of revenue for the company and also a source of prosperity for some app developers.
Over a period of 10 years, Apple has paid its developers over $120 billion through revenue earned from the app store. That means the App store has generated far over $120 billion for the company itself. Most notably is the fact that more than a quarter of that total was earned last year as Apple announced a $100 billion generated revenue for developers at the WWDC in June 2018.
According to the announcement from Apple, The app store revenue is growing rapidly and more than $30 billion of the developer revenue was generated last year. Game apps have been the most lucrative category on the store through in-app purchases, paid downloads and subscription.
While Apple report only accounted for the amount paid directly to its developers, there is every possibility developers may earn more revenue through ads and subscription on their website.
Apple made the announcement of about the earning of developers alongside the Entrepreneur Camp in Cupertino, a two-week intense program designed for female apps creator where participants work one-on-one with Apple experts and engineers to significantly accelerate their apps.
Going forward, Apple plans to hold Entrepreneur Camp sessions on a quarterly basis, with up to 20 app companies accepted for each round. As outlined when the program was announced, app-driven businesses need to be female-founded, co-founded, or led, and must have at least one woman on the product development team.