A customer walks out after picking up Apple’s new 5G iPhone 12, which has gone on sale as the outbreak of Coronavier Disease (COVID-19) continues, at an Apple store in Brooklyn, New York, October 23, 2020.
Brendan McDermid | Reuters
Apple’s App Store customers spent a record $ 540 million on New Year’s Day alone, a 40% increase from the previous year, the company said Wednesday in its annual services report.
On top of this, Apple announced that Digital had generated $ 1.8 billion in App Store sales in the week between Christmas Eve and now has 90 million monthly active users for its Apple Books app.
But the report did not provide customers with updates for their suite of new subscription products such as Apple TV + (video streaming), Apple Music and Apple Fitness + (a Pelton competitor). In the fall, Apple began bundling several of its subscription services together as part of its Apple One program. The service category is a major growth area that Apple has focused on in recent years as hardware sales have increased.
Apple’s App Store update also comes as tensions continue to increase over Apple’s App Store policies. Many app developers, notably Facebook and Fortnite creator Epic Games, have publicly criticized Apple for cutting App Store sales by 30% from developers and implementing a new policy designed to expose For which apps track your data for targeted advertising. Apple recently changed its policies to cut 15% from companies producing less than $ 1 million in App Store sales, which the company said was a move to help small businesses.
Overall, Apple’s services generated revenue of $ 53.8 billion in the company’s last fiscal year, which ended in September 2021. Apple expects to report its first quarter earnings in a few weeks.
Subscribe to CNBC on YouTube.
.