I Want to Build an app… How Much can it Make?
As you are probably well aware of, you can make a lot of money depending on what type of app you develop. Some people make billions of dollars, while others make millions, thousands or nothing. Most of the money in the app business is made by certain kinds of apps. The apps that generate the most in the world may not be the ones you suspect. When building your app from the start you should be thinking about how you can maximize your app’s earnings. Having an app development company will help you decide or should at least encourage you on the best practices of this. In the meantime, this article will explain the ins and outs of how apps make money. It should also give you a couple of ideas on how to make sure you have a solid plan to generate revenue with your app.
The app market has grown substantially and continues to grow year over year. The industry experts say that you can count on nothing but continued growth. Back in 2017, over half (63%) of all website traffic came from mobile devices. On top of that 3.3 of the almost 6 hours per day that people spend consuming digital media occurred on smartphones, with desktops, laptops, and other connected devices struggling to keep up.
So, if you think that you have a pretty cool idea for an app, researching options, or looking to jump into the startup life, consult with an app development company today. However, before you do, check out our “Question to ask your developer”. It’s on our website home page, and its free! This will guide you on some of the key questions that you should be asking your potential developers while you are shopping around.
WHAT KIND OF REVENUE DO APPS GENERATE?
The worldwide mobile app revenue is projected to hit over $188 billion by the year 2020. That’s more than a 200% increase from 2016. Now of course, the gaming apps will continue to dominate the list of the highest revenue generating apps. That’s right…. mobile game apps are in. Last summer, the well-known game called Candy Crush Saga by King was generating $1.3 million per day through in-app purchases. Whaaaaaattttttt!?!?! Yes. Also, who could forget Pokemon Go? People were running all over their cities trying to catch a Pokemon. Well while users were searching for Pokemon, the company was raking in some serious dough….$890 million to be exact.