According to a just released report from App Annie, China hit a major milestone in the latest quarter: the country racked up an industry record with “the highest revenue quarter the iOS App Store has ever seen.”
“This past quarter was full of game-changing apps and unprecedented growth in revenue for iOS,” reports App Annie. “China shattered iOS revenue records with the highest reported this quarter to date for any country. China also not only maintained its spot as #1 for Games (which it earned last quarter), it is now the largest market in the world for iOS App Store revenue, earning a record $1.7 billion.”
That means China is now lapping the U.S. (by more than 15 percent). The country’s growth here is also projected to climb further by 2020.
Games represent the source of the majority of revenue generated in China, but other categories — like Entertainment and Social Networking — are making strides; in fact, they’ve more than tripled in the past year.
“Video streaming apps in China have had a major impact on the Entertainment category as a whole, and include further integrations into traditional cable spaces with investments in smart TV and original content,” explains App Annie.
More trends are revealed in the App Annie Index: Market Q3 2016.
To obtain the full report, click here.