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Apple (NASDAQ:AAPL) says the App Store had a record-breaking holiday season.

Customers spent $890M in the seven-day period starting Christmas Eve. New Year’s Day had $300M in purchases.

In 2017, iOS developers earned $26.5B, up over 30% on the year.

Thats for nearly 1 billion in seven days for Apps alone.

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Loup Ventures Update:


App Store revenue grew about 30% in 2017. Apple announced App Store revenue reached $300 million on New Year’s Day 2018, a single day record. They also reported for the period of Christmas Eve to New Year’s Eve, App Store revenue hit $890 million. Most importantly, Apple announced in 2017 iOS developer payouts increased 30% year over year, compared to 40% growth in 2016. While not identical, developer payout growth mirrors App Store revenue growth.

Slower growth but still healthy. We estimate App Store revenue is the largest segment of Services accounting for 37% of Services revenue, growing at 30%. Tonight’s App Store update is in line with our estimate calling for 30% App Store growth in 2017. While 2017 App Store growth slowed to 30% from 40% in 2016, it’s still advancing at a healthy rate given the law of large numbers (largest segment of Services) and the fact that this growth is supported by only about 2% iPhone unit growth during that period.

Services revenue by segment. Below is our estimate of Services revenue by segment. Our full Services model expects growth to decline at a slow rate, going from 23% in 2017 to 15% in 2022.
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