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This article was published on July 22, 2014

    Apple has now paid $20 billion to App Store developers

    Apple has now paid $20 billion to App Store developers
    Josh Ong
    Story by

    Josh Ong

    Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him a Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him at [email protected].

    Apple revealed during its fiscal Q3 2014 earnings call that it has paid a total of $20 billion to App Store developers. That’s up from $10 billion in payouts as of June 2013, and $13 billion as of last October.

    During the first nine months of this fiscal year, Apple’s iTunes business has been its fastest growing segment, with the App Store playing a significant part in that growth. In the June quarter, iTunes brought in $4.5 billion in revenue, up 12 percent year over year.

    Apple Q3 2014 Conference Call

    Thumbnail credit: Apple