Apple Has Paid Developers $5 Billion Amid 30 Billion Downloads

Apple Inc. has paid software developers $5 billion, sharing a portion of the revenue raised from downloads of 30 billion applications from its online store.

The App Store, a marketplace where users can choose from downloadable games, magazines and productivity tools, now boasts more than 650,000 apps, Apple Chief Executive Officer Tim Cook said today at a conference for developers in San Francisco.

To contact the reporter on this story: Adam Satariano in San Francisco at asatariano1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net