EU market represents roughly 7% of Apple’s global App Store revenue
Luca Maestri, Apple’s Senior Vice President and Chief Financial Officer, has reported that the EU market represents roughly 7% of Apple’s global App Store revenue amid changes to Apple’s policies in March to comply with the Digital Markets Act’s, which will require Apple to add support for third-party app stores on iPhone, allowing users in the EU to download apps to their devices through an app marketplace other than Apple’s own App Store.
With iOS 17.4, users will be able to download an alternative marketplace app from the marketplace developer’s website, this will act similarly to the iOS App Store in offering apps to users that can be installed onto a device, such as an iPhone or iPad. Additionally, developers who make apps for iOS will have new tools that will enable them to make their App Store apps available too on alternative app marketplaces.
The announcement was made on Thursday as Apple reported its financial results for its fiscal 2024 first quarter, posting quarterly revenue of $119.6 billion, up 2 percent year over year. In a live call with investors Maestri responded to a question asking if Apple expects to see the upcoming changes having any significant impact financially to services by saying “Just to keep it in context, the changes apply to the EU market which represents roughly 7% of our global App Store revenue.”