Apple reported Thursday that developers raked in $20 billion on its App Store in 2016, a 40 percent jump since 2015.
That suggests Apple reaped at least $8 billion in revenue from its App Store, with a 20% growth of 2.2 million apps.
The tech giant said its biggest day of sales on the App Store was on Jan. 1, 2017, when customers spent a record $240 million. The top grossing markets included the U.S, U.K., Japan and China, which saw 90 percent year-over-year growth.
Investors pay close attention to the performance of the App Store, as Apple now emphasizes its role as a services company. The broad smartphone market is maturing, and the tech giant is highlighting recurring revenue streams that do not depend on new device sales.
Digital stores represent big battlegrounds between Apple and rival Google.
According to App Annie, which provides market data for the app economy, Google Play’s worldwide downloads were 115 percent higher than Apple’s App Store downloads in the third quarter, which is the latest data available.
However, Apple maintained its advantage in revenue. In the third quarter, App Store revenue was 100 percent higher than Google Play’s.