How much money does Apple make from the App Store? This is a question that gets asked pretty often. Cupertino has said in the past that they do not make significant profit from the App Store and most of the revenues only help in keeping the servers running.
But according to a new report from Citibank, Apple should be expecting revenues close to $2 billion in 2011. This is for a period that is expected to see terrific growth in app usage. Citibank estimates the total value of the app market to grow from $4 billion in 2010 to $27 billion in 2012.
What this means is that Apple could be expecting a significant profit line from the App Store for the first time this year. While the company does not reveal its revenues from particular properties, we do expect Steve Jobs to make an announcement about the App Store becoming cash positive in one of the media events next year.