So you've been running on iPhone 2.0 (hopefully, 2.0.1) for a while now. And you've all enjoyed the plethora of quality apps at the App Store, but did you know how well the App Store was actually doing? Well, according to one of those old reputable printing press companies, pretty darn well.
The App Store holds a current pace of earning a revenue of over a million dollars a day, which roughly translates to $360 million a year. Steve Jobs issued some resounding statements about the App Store saying,
"This thing's going to crest a half a billion, soon," he added. "Who knows, maybe it will be a $1 billion marketplace at some point in time." and also said, "I've never seen anything like this in my career for software"
Though the WSJ doesn't believe Apple will be able to derive much profit in this current 70/30 split since they only make enough money to cover credit card transactions and maintaining the App Store itself, Jobs believes that having such a direct pipeline of apps will be able to sell more iPhones much like how iTunes enabled more sales of iPods.
So yeah, that App Store is doing great. Who would have thought an easy-to-use, iTunes-like interface would revolutionize the mobile software industry? Best of luck catching up RIM, WinMob, Android..