The highest-grossing iPhone and iPad apps worldwide
Streaming giant Netflix (NFLX) has had a robust subscription business model, which has led to its success over the last few years. Since then, more companies—streaming or otherwise—have switched to the subscription model and have found success globally as well.
App research company Sensor Tower compiled a list of the top ten highest-grossing iPhone and iPad apps through Business Insider. Subscription companies have a high representation on the list.
Netflix, unsurprisingly, has topped the list, grossing $790.2 million in 2018, followed by Tencent (TCEHY) Video, which was a far second, with $490 million. Matchmaking app Tinder was in third place on the list, grossing $462.2 million on the back of its premium services.
China may prove a critical region for Apple
Chinese apps iQuiyi, Kwai, Youku, and QQ were in the fourth, fifth, eighth, and ninth positions, respectively. Youtube, Pandora, and Hulu completed the list. These Chinese apps in the top ten belong to tech giants Tencent, Baidu, and Alibaba (BABA), with most of their users based in China. Apple gets a healthy 30% cut from in-app purchases on iOS apps.
The data show that China is an important country for Apple (AAPL) not only in terms of iPhone sales but also given its revenue from app stores. Apple’s revenue from the App Store and its Services segment will likely be a critical source of growth for the iPhone maker.