APPLE CEO Tim Cook has revealed that the firm's App Store had a 'record-breaking' July and has now paid out $50bn in total to developers since it went live in 2008.
July was a record-breaker for the @AppStore! Highest-ever monthly billings and money paid to developers.— Tim Cook (@tim_cook) August 3, 2016
.@AppStore developers have now earned over $50 billion! Congratulations on your success and such inspired creativity.— Tim Cook (@tim_cook) August 3, 2016
The milestone comes after the firm boasted during an earnings call last week that App Store revenue was up 37 per cent year over year, while the entire Services division was up 19 per cent.
While not mentioned, it's likely that Pokémon Go played a large role in the App Store's success last month. It was revealed this week that the game has already hit 100 million downloads and is earning up to $10m a day.
Cook also said that monthly billings, probably in-app subscriptions, were at an all-time high in July.
That's not surprising given the attention Apple gave to subscription-based apps at this year's WWDC. The firm announced a new revenue sharing split in which the firm keeps the current 70/30 split but, but drops its cut to 15 per cent once a developer has had a customer subscribed for a year.
Apple has also started supporting a subscription-based model in all app categories, including games, and introduced tiered price options for app subscriptions.
Apple's $50bn App Store milestone comes just days after the company announced the sale of the billionth iPhone. µ
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