Apple made a record USD 64 billion in revenue from its App Store in 2020, 28 per cent increase from an estimated USD 50 billion the tech giant generated from the App Store in 2019. According to an analysis by CNBC, this marks a solid growth for the App Store since the estimated increase between 2018 and 2019 was only 3.1 percent. All made USD 48.5 billion in 2018 from its App Store.

"App Store sales growth accelerated strongly during the Covid-19 pandemic," the report said on Friday. Apple's App Store reported USD 53.7 billion in sales in Apple's fiscal 2020, which ended in September.

Beginning this year, Apple is charging smaller developers who make less than USD 1 million per year on its platforms 15 per cent fee, instead of 30 percent. If a participating developer surpasses the USD 1 million threshold, the standard commission rate will apply for the remainder of the year, Apple said.

If a developer's business falls below the USD 1 million threshold in a future calendar year, they can requalify for the 15 percent commission the year after.

Apple said the new "App Store Small Business Programme" will benefit the vast majority of developers who sell digital goods and services on the store, providing them with a reduced commission on paid apps and in-app purchases.

Apple doesn't disclose how much revenue its App Store makes per year.

The company has paid developers USD 200 billion since 2008, up USD 45 billion from the figure that was announced in January 2020. "If that's equal to 70 percent of App Store sales, then the App Store grossed around USD 64 billion last year".

Despite the Covid-19 pandemic that affected Apple's retail operation globally, the company has exceeded its internal financial targets in the past fiscal year.