Happy developers: Apple's App Store clocks ₹44,447cr sales in 2024
What's the story
Apple's App Store ecosystem in India generated a whopping ₹44,447 crore ($5.31 billion) in billings and sales last year.
The figure was disclosed in a study by Professor Viswanath Pingali of Indian Institute of Management Ahmedabad, released by the iPhone maker.
The study noted that more than 94% of these earnings were directly passed on to developers and businesses across sectors, implying minimal commission by Apple.
Billing breakdown
Physical goods and services led the billings
The study found that sales from physical goods and services added a whopping ₹38,906 crore to the total billings.
This category mainly consists of business generated for e-commerce platforms like Nykaa and Blinkit.
Next, in-app advertising added ₹3,014 crore, while digital goods and services made up ₹2,527 crore of the total billings.
CEO's statement
Tim Cook hails App Store as an economic miracle
Apple CEO Tim Cook hailed the App Store as an "economic miracle" for developers across the globe.
He said he was excited to support their work and highlighted the strength of India's vibrant app economy.
Cook also reiterated Apple's commitment to invest in developers' success, no matter how big or small they are, as they build apps that make a real difference and enrich people's lives.
Global reach
Majority of App Store earnings from foreign users
The study found that nearly 80% of the money earned from India-based developers' App Store came from international users.
Around 87% of these developers were also active on multiple storefronts - App Store versions available based on region/country.
Apps developed by Indian developers were present in as many as 175 storefronts in 2024, Pingali's research found.
Download surge
App downloads from India doubled in 2024
The study emphasized a remarkable increase in App Store downloads from India-based developers, which doubled to 755 million times in 2024 compared to five years ago.
Apps developed by Indian developers featured in the top 100 most-downloaded apps, across 70 storefronts outside of India.
This shows a growing global interest and demand for apps developed here.
Developer growth
Small developers' earnings increased by 74%
The study also noted that total App Store earnings of small developers skyrocketed by 74% from 2021 to 2024. This growth was primarily fueled by programs like the App Store Small Business Program, which provides a lower commission rate for small businesses.