In July, App Store hit highest-ever monthly billings and money paid to developers

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According to Apple CEO Tim Cook himself, the App Store has set a new record in July with highest-ever monthly billings and money paid to developers. Developers have now earned over $50 billion from sales of their apps since the App Store’s debut in the summer of 2008—and that’s after the company’s standard thirty percent cut on all App Store proceeds.

The CEO took to Twitter to congratulate developers on their “success and such inspired creativity”.

“App Store developers have now earned over $50 billion,” reads Cook’s tweet. “Congratulations on your success and such inspired creativity”.

“July was a record-breaker for the App Store,” another tweet reads. “Highest-ever monthly billings and money paid to developers.”

The Cupertino company revealed during a conference call with Wall Street analysts and investors that revenue on the App Store revenue climbed 37 percent in the June quarter, an all-time high, with the iTunes Store setting a new record for customer transactions.

In the past three quarters, Apple saw a major revenue increase in the Services category as its installed hardware base continues to widen. The Services category comprises iTunes and App Stores, AppleCare, Apple Pay licensing and other services.

In the June quarter, for example, Services accounted for eleven percent of Apple’s overall revenue. As hardware sales have been decelerating, Apple has been looking for new ways to squeeze money out of its existing users and now anticipates the Services category to become the size of a Fortune 100 company by 2017.

Source: Tim Cook on Twitter