Mini App Partner Program launch is a ‘clear positive’ for Apple

Analysts at Morgan Stanley view Apple’s new Mini App Partner Program as a significant move to broaden App Store revenue streams and mitigate threats from rising AI platforms.
According to Morgan Stanley analyst Erik Woodring, the program—imposing a 15% commission on web-based mini apps embedded in native iOS apps—represents “a clear positive for Apple.”
Sam Boughedda for Investing:
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The analyst added that the change “could add $800M of App Store revs annually from WeChat/Weixin alone, implying 80bps upside to our FY26 Services growth ests and supporting valuation multiple expansion.”
Woodring explained that the move allows Apple to monetize an area that “previously stood outside Apple’s App Store commission structure,” which should create “incremental revenue generation opportunities for the App Store at a time the sustainability of growth is being called into question.”
Analysts also highlighted the defensive benefits of the program. “This move should be viewed as a clear risk mitigation tool against emerging AI ‘super-apps’ such as ChatGPT,” the note said, adding that the reduced rate marks “a meaningful improvement from the prior 0% take rate on mini apps.”
Woodring stated that the launch is “a compelling offensive and defensive strategy aimed at better monetizing the App Store and protecting businesses from the rise of AI native LLM apps.”

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MacDailyNews Take: As we wrote yesterday, it’s great news for Apple and AAPL shareholders: “Mo’ money, mo’ money, mo’ money!”

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