China beats U.S. in iOS App Store revenue

It is no longer the U.S., but China that spends most on iOS App Store. And 75 percent of the revenue comes from games.

The U.S. had been the leading iOS market since 2010

According to market research firm App Annie, Apple earned more than $1.7 billion in the third quarter from China alone. The figures were higher than the US-based revenue which stood at US$1.45 billion.

Apparently, Chinese consumers spent more than five times the amount they spent just two years prior on the iOS App Store. App Annie predicts that China will account for the largest growth in revenue till 2020.

Dai Bin, region director of Greater China at App Annie, says China leading the iOS market by revenue is a huge milestone for the app ecosystem. “As an app publisher or marketer, if China wasn’t a key priority in your app strategy, it should be now,” he adds.

In terms of the revenue driving categories, App Annie puts games at the top, followed by entertainment, social networking, books and videos.

App Annie pointed to iQIYI, Tencent Videos and Youku as key drivers for the growth. Live streaming is predicted to be a $5 billion market by the end of 2017, and this just in China.