How Much Money Can You Make From An App?
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You may be already well aware of the fact that the mobile app market is growing substantially and here you are having huge opportunities to make billions of dollars.
But it also be noted out that not every app generate a passive income. On the other hand, some are capable of the same.
Note: – It should be noted here that mobile app is going to boost your business (or startup), surely and in this case, it does not matter which industry you belong to, because a giant portion of your customer base is now on smartphones i.e. 5+Bn people out of 7.7Bn are carrying the smartphones.
Check out this astonishing data!
The daily revenue generated by the top two hundred apps is more than US$80,000
Now, if you consider the top eight hundred apps then these are generating approximately US$ 3,500 on a daily basis.
Talking category-wise (daily basis revenue generated by apps);
Gaming apps = US$22,250
Entertainment apps = US$ 3,090
It should be noted out that, in the year 2018, more than 50% online traffic has come with the mobile devices only in the USA and around more than 3.5 hours are spend on the smartphones by the adults on daily basis.
Do you know?
There are more than 3 million apps are registered on App Store and Google Play on an aggregate.
Other point is that there is a pure saying to survive into the marketplace, be there where your customers are.
Now-a-days, your customers are on mobiles (smartphones) so you should be there otherwise in the coming days you will be totally out of the market and it does not matter that what kind of business you are doing. Furthermore, the size of the business also does not matter.
Let’s come to the main query!
Generally, speaking, there are these common ways through which you can earn a passive income from your mobile app:-
- In-App Purchase
This is one of the big factors through which you can earn passive income from your mobile app without giving any special heed.
If you are selling any kind of product then you can sell out the same through your mobile app then this process is called In-App Purchase.
- Subscription Plan
Now, let’s take a glimpse into the subscription plan!
If you have any initial plan then you can also set some special features for the same that the users may need at the later stages for sure.
And for using these special features they need to pay some amount as per predefined plans.
- In-App Advertising
Now you have the third option of earning through your app i.e. you can go for Google Ads that can be easily set up by using Google AdMob.
This is one of the methods of earning through mobile apps that are known as sponsorship. This is the way it works – you initially need to discover a brand that is offering an application like yours to a comparable set of audience and afterward, you approach them with the proposition of redesigning your application as indicated by their application style, so both your and their client base increments.
- Third-Party Advertisements
Now, as soon as you are having an appropriate number of audiences then other players belonging to the allied space start approaching you for their advertisement purposes.
You can show their business products or services and charge in return for showing ads.
Therefore, these are some of the popular methods of earning through mobile apps and through using these tactics you can generate a passive income or a recurring kind of model.
What kinds of apps generate big revenue?
The types of applications that capable of bringing awesome revenues are written below that are as follows:-
- Social Media Apps
- Entertainment Apps
- Business Apps
- Gaming Apps
- Food Delivery Apps
- Dating Apps etc.
Do you know the fact that apps aren’t just for mobiles?
Yeah! You heard it right.
When it comes to mind regarding an app we think that it only made for smartphones and in actual, it is not the case at all.
Smart TVs are a staple in excess of 70 million homes in the United States. The most famous applications utilized on Smart TVs are ones that are fitting for the medium and as of now have an enormous, existing client base, for example, Netflix and Hulu.
Smart speakers like Alexa and Google Home have likewise overwhelmed the application showcase. Responsibility for gadgets is anticipated to skyrocket to 125.65 million by 2020 with an enduring development of outsider application buys that outperform 1500%.
On the off chance that it bodes well on the stage, it merits remembering Smart TVs and home gadgets when structuring your application.
Development of stage contributions builds introduction for your application as well as opens it to new income streams.
Correspondingly, the present most sizzling video game consoles have their very own application stores.
Various applications can be found on every stage, including Netflix, Youtube, Hulu, and Amazon.
These are fruitful applications offering their administrations on new stages to make it progressively helpful for their clients. It’s a decent choice, however not really an incredible fit for the vast majority.
Another stage to focus on is smartwatches. With wearables ending up progressively common, it’s nothing unexpected that savvy watches are anticipated to arrive at a 51% portion of wearable gadgets sold in 2022, a gigantic hop from the past status of 21% in 2016.
Upgrading your application to be smartwatch-perfect could almost certainly be an upper hand.
Do free apps make money?
But in free apps, there is a number of essential features not activated that are not going to provide a good experience to the users.
So you can still earn through sponsorship, in-app ads, referral marketing, etc.
Which platforms make the most money for app developers?
While the value changes, it has been found that over 25% of iOS mobile application developers make over $5,000 for their applications when compared with 16% of Android mobility specialists. Along these lines, iOS is the platform that generally makes more money.
What are the most profitable apps?
Majorly, there are three categories that are as follows:-
- Music Apps
- Gaming Apps
- Video Streaming Apps
How much does Google pay per download of an Android app?
Google gives 70% of the revenue made on Google play to the developers only and it keeps 30% for itself.
How much does the Apple app store pay per download?
Apple gives 70% revenue made on the App store to the developers and keeps 30% of it for itself.
Do apps make a lot of money?
Initially, any kind of app is having huge potential w.r.t. the generating passive income but even though many factors affect a lot like a condition of your business and marketing the app at the marketplace.
Can you make money from an app?
Surely, anyone can make money from an app.
How much do mobile app developers make?
The worth totally relies upon elements, for example, features, platform, client desires, monetization model, and that’s only the tip of the iceberg.
How much revenue an app can generate?
It cannot be predicted generally as it is directly proportional to the functionality that later leads to the popularity of the app and revenue-generating factor as well.
How are payments made in Play Store?
Payments are made within a cycle of 30 days but for the same, you need to earn a minimum threshold so that it can be credited to your bank account.
How are payments made in the Apple App Store?
Payments are made within 45days of the last working day of the month. For receiving the same you need to provide all the necessary bank details. Moreover, you need to earn a pre-defined minimum threshold amount for getting credited amount to your bank account.
How long does it take to make/develop an app?
On average, it hardly takes 3-4 months to get ready your mobile application. Simpler application can be built even more early say within 2 months and more featured kind of apps like any e-commerce, food delivery, and dating apps generally takes 3-5 months.
What is the future of app development?
There are a lot of chances for fortune in the application market. The application market has achieved substantial growth since its origination and gives no indications of backing off.
The market might be a piece oversaturated, yet it’s promising to see that overall application store income has just come to $19.5 billion during the primary quarter of this current year with enormous lucky chances opening in India, China, and Brazil.
Video game applications are gigantic, multi-million dollar earners; however, there is still a great deal of cash to be made in less complex applications and smart home applications.
Well, thanks for reading the article (How much money can you make from an app?) till the end and hope it has cleared you many things regarding your query.
If you still have any question or doubt regarding mobile app development then you can get a 100% free consultation from Appther.
The contact details are as follows:-
Mob. (+91) 9911432288
Have a great time ahead!
About The Author Sumit Chauhan Work at Appther Mobility Technologies Pvt. Ltd, India. He is a technology enthusiast and interested in reading about International Business, Technological Advancement, Marketing tactics, Geographical spatial. Industrial news and more dynamic domain. If you didn’t find him in office then definitely he is on the hill tracks.