Over Half a Trillion Dollars Was Spent on Apple's App Store Last Year

Apple (NASDAQ: AAPL) published a press release on Monday detailing milestone performance for its App Store in 2019. The announcement cited an independent study conducted by Analysis Group, which found that $519 billion in global transactions were conducted through Apple's app ecosystem last year. The study noted that more than 85% of 2019's total spending on the platform went directly to third-party app owners without Apple receiving a commission.

The tech giant typically gets either 15% or 30% of digital goods and services spending on the App Store -- with the company usually taking the smaller commission for recurring-service payments and the larger commission for one-time purchases. However, it does not get a cut of physical goods purchased through third-party e-commerce apps or from services like Lyft, Uber, or AirBnB.

Source Fool.com