There’s no clear definition of how much money an app can earn, as it ranges between millions to billions of dollars every year. You can never predict the money earned by an app because some apps rake in money while others don’t make any money. You can’t put a single figure up because of the wide variety of apps in the market and the disparity between the money they make. For instance, the top 200 apps tend to generate around $82,500 daily, while the top 800 apps generate only $3,500 daily.
Gaming apps are the real moneymakers as they bring nearly $22,500 daily, and entertainment apps make about $3,000 daily. That’s why you can never definitively say how much money an app makes on average. The app market has also grown substantially over the past couple of years, and industry experts predict it will continue growing exponentially. That is the reason why Fortune 500 companies are rushing to hire app development experts to come out with their apps and make money.
When you are ready to develop an app, the first question on your mind is, “how much money can an app earn?” The answer to that question depends on what kind of app you plan to develop, which platform you want to use, and your target audience. You want to ensure that you do the basics right, which holds the key to developing an app that makes money. You also want to select the right platform for your app as that will allow you to market your app successfully to users.
Both platforms have apps that rake in money, and you need to be on board before you develop your app. There is no way to guarantee that your app will be successful, but you can improve your chances by selecting an ideal platform for your app. In the app market, app development experts are in high demand due to their ability to create an app that makes money for you.
Apps are big business, and everyone will tell you there is money in apps. However, no one will tell you that there are only certain types of apps that generate revenue. The global mobile app revenue is expected to go over $200 billion by the year 2022. That is nearly a 250% increase from 2017, which shows you the level of growth you can expect over the next decade.
Gaming apps dominate the list of top-grossing apps, and even though most of them are free to download, they make real money from in-game app purchases. That is what has seen apps such as Pokemon Go make nearly $800 million in revenue. The global revenue from in-app purchases was estimated to be at a staggering $72 billion, showing you how apps can make big money.
Subscription apps also earn a tidy sum as even though they may be free to download, you need to sign up for a subscription to take advantage of extra features. That is the model that apps such as Tinder have used to great success. They have over 50 million registered users, and they make all their money from in-app purchases. Their close competitor Bumble also has 50 million users and experienced a 150% growth rate in the past year. The dating app only allows women to initiate conversations and was projected to make $179 every minute due to their subscriptions.
There are plenty of opportunities for app developers to make a fortune in the app market. The key is understanding how to develop an app that will generate interest in your target market. The app market may be saturated, but you can earn a lot of money when developing the right app.