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article imageApple's App Store made $1.1 billion in the past two weeks

By James Walker     Jan 6, 2016 in Business
Apple has announced its App Store experienced a "record-breaking" holiday in which customers spent over $1.1 billion on apps and in-app purchases in just two weeks. $144 million was spent on January 1 alone, breaking records for traffic and purchases.
Apple announced the figures today. In the two weeks up to January 3, App Store shoppers spent over $1.1 billion, setting single-day purchase records twice. On Christmas day, more money was spent in the App Store than ever before, a record that lasted just one week until New Year's Day.
The most popular App Store categories have continued to be Gaming, Social Networking and Entertaining with titles such as Minecraft: Pocket Edition, Trivia Crack, Facebook Messenger and Snapchat noteworthy contributors.
Apple says the launch of its two newest products in 2015, the Apple Watch and Apple TV, has led to growth in other areas too. Rayman Adventures, Beat Sports and HBO NOW are the favourites on the Apple TV while Nike+ Running is apparently a must-have amongst Apple Watch owners.
Philip Schiller, Apple's senior vice president of Worldwide Marketing, said: "The App Store had a holiday season for the record books. We are excited that our customers downloaded and enjoyed so many incredible apps for iPhone, iPad, Mac, Apple Watch and Apple TV, spending over $20 billion on the App Store last year alone. We're grateful to all the developers who have created the most innovative and exciting apps in the world for our customers. We can't wait for what's to come in 2016."
According to Apple, over $40 billion has now been paid to developers since it opened its store in 2008. A third of the money was generated in 2015 alone. The company takes a 30 percent cut on every purchase for itself, suggesting it also built up a healthy cash pile over the past 12 months.
Apple also claims it is responsible for creating 1.9 million jobs in the U.S. alone, with 1.4 million positions attributed to mobile developers and software engineers who build apps for iOS. The company cites research by Dr. Michael Mandel of the Progressive Policy Institute who published a report on openings in U.S. app development today.
Apple's App Store isn't the biggest app marketplace but it does make the most money. Android's Google Play now sees 85 percent more app downloads than the App Store, commanding a clear lead in terms of app volume.
It could be argued Apple still runs the more successful store though. Despite having fewer apps, its revenue is now 45 percent greater than the income Google gets from the Play Store, suggesting people who pay the premium to get an iPhone are also willing to spend on apps once it's out the box.
More about Apple, App store, Apps, Revenue, Market share
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