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Apple is making a case that it’s better to be the platform than the creator.
The tech giant made more from gaming than Microsoft, Sony, Nintendo, and Activision Blizzard combined in fiscal 2019 despite not making any games, according to The Wall Street Journal.
Using documents revealed in the lawsuit against Apple brought by “Fortnite” maker Epic Games, the paper determined that Apple made $8.5 billion in operating profit that year from gaming — namely through the 30% developer fee charged for apps and in-app purchases on its App Store.
Apple said during the trial that these figures were higher than its actual operating profit from games.
The company’s dominant position faces legal and regulatory challenges. Epic filed an appeal in its lawsuit after the judge declined to determine whether Apple holds a monopoly in the mobile gaming sector.
Of the $13.54 billion Apple earned from App Store mobile games in 2020, 31% came from China, which is currently cracking down on the time minors spend gaming, often only allowing them to play for three hours a week.
Nike posted $12.2 billion in revenues for the fiscal quarter ending August 31, a 12% year-over-year increase.
Demand for golf-related real estate is at an all-time high. Around 500 million rounds of golf were played in 2020.
Sportradar went public through an IPO on Tuesday, raising $682 million at a valuation just under $8 billion.
Roger Federer-backed On Running is set to IPO at a reported valuation of $5.5 billion later this year.
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