Consumers spent US$1.42 billion at the App Store between Christmas Eve and New Year’s Eve, a 16 per cent increase from the previous year.

Apple revealed that US$386 million was spent on New Year’s Day 2020, up 20 per cent growth from 2019, setting a new record for sales on a single day.

Apple is focusing on building up its services business, which also includes Apple Music and iCloud, as sales from its hardware business start to slow. As the chart below from Statista illustrates, revenue from Apple’s services business reached an all-time high in 2019 reaching US$12.51 billion.

Infographic: The Rise of Apples's Services Business | Statista

More than half a billion people visit the App Store weekly across 155 countries. In 2019 the Cupertino giant expanded its services business launching Apple Arcade, Apple TV+, Apple News+ and Apple Card.

“2019 was the biggest year for services in Apple’s history,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services.

Developers have earned up to $155 billion since the launch of the App Store in 2008, with a quarter of the fortune generated in 2019.

The company also revealed Apple News now has more than 100 million monthly active users in the US, UK, Australia and Canada.

Apple is also continuing to expand its footprint in financial services, launching the Apple Card and adding uses for Apple Pay. For example, customers in cities including Tokyo, Moscow, London and New York can use Apple Pay to access public transport.

In 2019, iPhone and Apple Watch enabled contactless tickets for customers to globally to enter over 150 stadiums, arenas and entertainment venues.

The company said, in 2020 customers will be able to tap their iPhone and Apple Watch to ride trains and buses in multiple cities around the world and university students in the US will be able to use these devices to access dorms and services.

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