How Much Can An App Earn? What Various Factors Are Involved
With the ever-increasing popularity and the changing trends of the digital world in favor of the mobile market, an app has become a reliable way of connecting to more and more people and increasing your reach in the industry.
Be it the well established and flourishing fortune 500 companies or entrepreneurs, everybody is investing in apps in an attempt to get their share of success and profits and connect with their audience at a deeper level through the medium. And hence an upsurge in the number of apps sprouting up every day can be witnessed.
But the irony of the fact is that while all apps require a lot of time, energy and a decent amount of money to be created, they may or may not help you earn money. While an app may earn a million dollars, there may be another incapable of earning even a single penny. And an app is of no use if it does not have the potential to earn money
Know How Much Can An App Earn
There are various factors on which your million dollar app story depends:
- Platform
The platform on which your app is built on plays a very important role when it comes to attracting customers to your app and earning the desired profits. iOS and Android are both regarded platforms in terms of their potential earnings. 25% of the people using an iOS platform for their app earn above $5000 per month whereas 18% of the people having apps developed on the Android platform earn above $5000.
If we look at a broader picture on an annual basis an Android app on average earns $97.6k a year and an iOS app on an average earns $96.6k. In the crux of it, we can say that android and IOS are in a cut-throat competition with each other each trying to overpower the other.
One important point to note here is that they both are “top heavy” in terms of earnings that is that the top developers earn the maximum revenue and people just entering the industry often have to hire app development agencies to bridge the gap.
While we have already seen the popular and best ones, the platforms you should stay away from including Blackberry OS and Windows as they both lack market penetration and popularity among the customers.
- Type of app
There are different types of apps and they all earn differently. Be it a video gaming app or a music app like musically or tik tok there are different ways to earn from them. For instance, most of the video games are free to download and their developers earn from in-house purchases instead of from the downloads itself.
- Move to other platforms
Gone are the days when apps were just limited to smartphones. People are now slowly and gradually moving to smart TVs and so are apps. It may be difficult to convince people to download and use your app on their smart TV but if your app provides what it promises you don’t need to worry. People are in constant effort to keep up with the trend and they will give your app its due regard if they find it attracting enough. Not only smart TVs but also video gaming consoles such as Xbox One, PS4, etc have their own play store apps. Expanding your app on other platforms will not only help you connect with the audience at a deeper level but also open new sources of revenue for you.
While there are many who are earning millions and billions with their existing apps there are still many areas which have scope for experimentation and various opportunities to earn profits. With the current trends and an undying urge in people to go hand in hand with the latest technological trends, the app industry is set to grow, flourish and become stronger day by day.
