Apple's App Store estimated to generate US$5.4 billion revenue in 2016

Image source: Sensor Tower

The App Store continues to bring in massive revenue for Apple.

Based on estimates from research firm Sensor Tower, the global net revenue for apps in the App Store (excluding games) grew 60% to US$5.4 billion last year compared to 2015. Google Play Store saw its annual revenue increased by a whopping 82% to US$3.3 billion.

Spotify is stated to have brought in the most revenue as it took the top spot in overall download rankings. Netflix came in second followed by Line, Pandora and HBO Now. Sensor Tower also noted that 9 out of the top 10 apps are similar across the App Store and Play Store when it comes to the overall chart for global revenue.

Apple earlier revealed that New Year's Day 2017 was the busiest single day ever for the App store with nearly US$240 million in purchases made in a single day. In December 2016 alone, over US$3 billion (~S$4.3 billion) in purchases were made in the App Store.

Source: Sensor Tower via AppleInsider