App Store Revenue Declines

Apple’s App Store suffered a 5% year-on-year dip in net revenue in September according to a note from Morgan Stanley analyst Erik Woodring. This is the biggest drop in App Store revenue since the financial services company started tracking its data. Gaming was the biggest reason for the decline as the sector plunged 14% year-on-year in revenue. Net revenue growth for the top 10 markets for the App Store decelerated, apart from regions like China, Taiwan and South Korea, which grew or stayed flat. These top 10 markets make up almost 87% of the App Store’s revenue.