App Store download revenue set to overtake amount made by entire movie industry this year | iLounge News

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App Store download revenue set to overtake amount made by entire movie industry this year

App Store downloads brought in $26.5 billion for developers in 2017, and Asymco’s Horace Dediu has unearthed some interesting stats about how that stacks up against other juggernauts of American business. If App Store downloads continue to increase at the same rate, the amount generated in 2018 will be more than the entire film industry combined, as well as more than the revenue taken in by the entire McDonald’s Corporation in 2016. In the coming year users will be spending about $100 million each day on apps, making the App Store segment of Apple’s business the equivalent of a Fortune 100 company in its own right. And these totals don’t take into account other apps offered from free by companies like Amazon and Uber that in turn are used by those companies to generate revenue. With Dediu estimating that “iOS enables about 50% to 60% of mobile economic activity,” he estimates that between economic activity and hardware sales combined, “the iOS economy cleared about $380 billion in revenues 2017” and is set to approach the $500 billion mark in the coming year.

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