Name: Apple cuts its App Store commission from 30% to 15% — if your apps earn less than $1M
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Apple cuts its App Store commission from 30% to 15% — if your apps earn less than $1M

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This article was published on November 18, 2020Apple announced today that it’s reducing its App Store commission to 15% for developers earning less than $1 million a year. The company has made this cut from the 30% commission is previously charged.The new announcement comes as a part of Apple’s “App Store Small Business Program” initiative. Under this project, only developers whose apps cumulatively earn less than $1 million per year can qualify.If during a year, their apps cross the million-dollar mark, Apple will levy 30% rates till the year-end. If revenues fall below $1 million for a developer, they can apply for the program next year.Are you into gadgets? And apps? And other cool tech stuff? Then this weekly newsletter is for you.The company claimed that this initiative will benefit “[Read:&nbsp;]The iPhone maker’s 30% commission has been a long-standing debate amongst companies and developers. Earlier this year, the company banned the popular game Fortnite for trying to circumvent Apple’s in-app purchase system. In response, Fornite’s owners, Epic Games, said that Apple holds an illegal monopoly for app distribution on iOS.Companies like Spotify have complained about . One of its arguments has been that Apple’s own services, such as Spotify rival Apple Music, get an unfair advantage on the company’s app distribution platform.While the Cupertino-based tech giant says that it charges everyone 30% for in-app purchases, it has also cut some unusual deal such as , where the ecommerce bigwig didn’t have to pay additional charges.These new rules come into effect from January 1, 2021. You can read more about Apple’s announcement .Subscribe to our snarky newsletter all about consumer tech.

This article was published on November 18, 2020Apple announced today that it’s reducing its App Store commission to 15% for developers earning less than $1 million a year. The company has made this cut from the 30% commission is previously charged.The new announcement comes as a part of Apple’s “App Store Small Business Program” initiative. Under this project, only developers whose apps cumulatively earn less than $1 million per year can qualify.If during a year, their apps cross the million-dollar mark, Apple will levy 30% rates till the year-end. If revenues fall below $1 million for a...

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Ivan Mehta

The Next Web (TNW) is a website and annual series of conferences focused on new technology and start-up companies in Europe. The Next Web company was established in 2006 by co-founders Boris Veldhuijzen van Zanten and Patrick de Laive in Amsterdam, Netherlands, and a technology news website of the same name was started in 2009. On 5 March 2019, the Financial Times purchased a majority stake in TNW.

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Apple cuts its App Store commission from 30% to 15% — if your apps earn less than $1M

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