Hello to all the app developers out there. Developing an app requires a lot of hard work and skills but still it can be so much fun. We have read a lot about doing what we love or going to the job which we love and that is why I am here my friend. If you love developing apps then why don’t you follow what you are interested in but the question arises, ‘CAN YOU MAKE MONEY WITH APPS?’ The answer is “YES OFCOURSE”.
Though it is hard to tell any exact figure or amounts in which you can earn but once you are on the right direction you can earn well. App making is also just like another career or job which helps you in making money. If you have skills and knowledge you just require some guidance and you will be on the roads of earning sufficient money by developing an app.
Before developing an app, you need to go through the procedure of decision making and one of the decisions includes selecting the platform for you app. It is a significant step because it may play a great role in determining the revenue for your app. Read the article below to clear all your doubts.
How are payments made in apple and play store?
In an Apple store or an iOS, users can make payment using Apple Pay. users can use other methods of payments like most credit and debit card, PayPal, Apple pay, Apple cash. They must select any available payment method to purchase an app. Similarly, in a Google Play Store user can make payments using google pay. Other payments methods which they can use are credit card, online banking, mobile phone billing.
If your app is on iOS then they will credit your payment after when you submit your documents and other details like bank details and tax details. The amount takes minimum 45 days to be transferred. Also, there is one condition, that you must have earned a fixed amount and then when you fulfil this your amount is credited to your account.
For google play store there is no minimum amount you need to earn. The 70% of the amount earned is credit to your accounts within the span of 30 days. While the 30% of the amount is kept with google.
Revenue growth for an Android and iOS:
Both Android as well as iOS is growing rapidly at a good speed. This is a benefit for all the app developers out there. According to the sensor report tower, in 2019 both the iOS play store and the android play store earned a total of $39.7 billion. Without even a doubt, Apple takes over google in the revenue growth as always. There is a huge difference in the growth of Apple as compared to Google.
According to sensor tower reports 2018 Apple Play store’s growth was much more than google play store. The total revenue of Apple Play store was $46.6 billion where Google’s revenue was half of it i.e. $24.8 billion. Though the revenue of Apple play store is much more than google play but sensor tower states that revenue of google play store is increasing more rapidly than IOS.
Which platform makes the most for app developers?
You can make the most out of your app only when your app is best fitted for the users, as they are the source of revenue for your app. A platform is best for you only if you reach your target audience. the earning for your app depends upon your type of app the target audience, the budget and the development timeline.
If you want to make money out of your app then definitely iOS is that platform as it is the platform which makes the most for app developers. Also, it is a better platform for you if you want to build an app with a lowest budget and rapidly.
Android can be a better platform if your app includes those features which are not supported by apple play store. Android can make the most for app developers when the target audience is from a region where most of the users use android.
Yes definitely, you can make money irrespective of the store. There are so many ways with which you can make money. Here I have listed those ways.
Freemium means the basic services on the app are provided for free whereas some advanced features are paid. This feature is most popular in editing apps like VSCO,
PicsArt etc. where you can use the basic features of the app for free but you have to pay for some of the special features.
In app purchases-
In app purchases simply mean that you can buy additional services or feature within the app. To make a in app purchase you need to use virtual currency. This feature can be seen mostly in the gaming apps where you can buy a weapon or diamonds or energy etc. for a better performance in the game.
sponsorship of apps is rare as it requires much hard work and research than other ways of making money. The sponsors basically work with you as a team you need to find a brand as your sponsors who understands your app and you both can earn together
In app advertising-
advertisements are one of the best sources of revenue. You can add advertisement in between of your app and it can definitely help you earn.
What kind of revenue does app generate?
Apps make a lot of revenue and there is no doubt in this fact. According to Statista 178 billion apps were downloaded in 2017. Statista states that in 2016, the total revenue earned by mobile apps were $188 billion. Sensor app predicts that by 2023 the total app revenue for google play and the iOS app store will reach $156 billion.
How much does a subscription app earns?
Subscription apps are the apps in which you need to pay a fixed amount as monthly fee to make use of their app. Some of the subscription based mobile apps are Netflix, Amazon prime, bumble, tinder etc. these apps allow the user to make benefit of the content which they provide in the subscription that they make. The apps have gained much popularity in the past few years and growing at a very great rate.
According to sensetower.com, the top subscription apps for 2019 are Netflix, Tinder, Bumble and more. Some recent studies also suggest that these subscription apps earn 50% more than a other types of apps. Isn’t it a great way to make money?
Apps aren’t just for just for mobile phones:
It is not necessary that your app is used only on a smart phone. There are several other platforms were your app can be used. The most popular app kind is a web app. Web app can be used on a mobile phone too but it can be accessed through your pc or laptop.
It includes google apps and Microsoft 36.5. apps are also required for smart TVs and it is gaining popularity day by day. Alexa and google home speaker also run through a app. There are apps installed in smartwatches and that actually proves the statement that apps aren’t just for mobile phones.
which mobile app category makes the most money?
In the past few years, we have seen that gaming apps have earn a lot because of downloads and other ways like freemium or in-app purchases. There are a lot of apps which make good amount of money. Here are top 3 apps.
- Entertainment– Entertainment apps have gained too much popularity in the past few years. As most of the entertainment apps earn through subscriptions, they make money 2-3 times more than a general app.
- Music – Music apps too make a lot of money. One of the best examples is Spotify
- Lifestyle- Lifestyle apps like tinder and bumble are making a lot globally. So a lifestyle app can be good option if you are looking for a money making category.
Next big thing for a mobile app:
According to Statista in 2015 app business generated $70 billion and it expects $188 billion at the end of 2020. Mobile app developers are also rapidly thinking and taking major steps to take their business to another level. The next big thing for a mobile app will be definitely the use artificial intelligence. Bigger companies like Google are actually building their own AI chips. Mobile app will make better use of artificial intelligence and machine learning in the future.
At the starting of the blog the question was can you make money from apps? and now you know that yes you can make enough money through apps. There are very crucial decisions you need to make before developing an app like the type of app, the correct platform and your target audience. App development is a popular thing now and also there are many ways to earn money through them. Just think carefully invest your time and knowledge and build a best app possible.