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Monday, June 07, 2010, 10:10 am PT (01:10 pm ET)

Apple says App Store has made developers over $1 billion

Speaking at Apple's annual developers conference on Monday, chief executive Steve Jobs said his company's industry-leading App Store has generated developers more than $1 billion in revenues while serving up over 5 billion app downloads since its inception two years ago.

225,000 apps in total on the App Store

Calling it the 'most vibrant app community on the planet,' Jobs said Apple's combined catalog of iPhone, iPod and iPad apps now totals over 225,00. During his keynote speech, he went on to highlight a few new apps making their way to the store for the iPhone, namely Netflix with 3G streaming, Guitar Hero, and Farmville from app developer Zygna.

Netflix for iPhone

The Netflix application will use adaptive technology to allow instant switching between Wi-Fi and 3G connections. Users will also be able to start programs on one device, such as an iPad, and finish them on their iPhone, or vice versa.

Farmville for iPhone

The Farmville application will be available by the end of June, and allows for in-app purchases and push notifications. It also features an exclusive Snow Leopard character only available on the iPhone. Farmville reportedly has more than 70 million active users worldwide, and the new application will allow users to access their digital farm on the go.

Guitar Hero for iPhone

Guitar Hero for iPhone arrives with a completely new experience, sporting classic rock tracks from Queen and the Rolling Stones, and allowing users to customize their 3D avatar. Available today on the App Store for $2.99, the game also includes a new strumming mechanic along with the established tapping mechanics.

$1 billion in developer payouts

Finally, Jobs said he had "a few great pieces of info to share" with developers. Last week, he said, the App Store crossed the 5 billion milestone for app downloads. With Apple granting developers 70% of revenues for apps sold on the store, those 5 billion downloads have combined to earn developers over $1 billion in revenues, he said.