It can not be denied that the mobile app development sector is highly capable of earning millions of dollars with the emerging technologies and relevant resources to utilize them. However, along with this potential comes risk-factor as well, of not just the app going unsuccessful but also of loss of investment put into its development and advertising. Therefore, it becomes crucial to scrutinize the earning possibilities through an app before investing in it. Therefore, in this article, we will put some light on multiple aspects on which earning through an app depends.
Apple Store Payments:
Apple Store follows a standardized criterion of paying out to its app stakeholders. iOS app payments are generally made in less than 45 days when the app is purchased by the users. All necessary documents have to be submitted by you such as bank and tax details along with maintaining a minimum payment level. When paying out, Apple keeps a share of 30% of the revenue made by an app on the app store and delivers the remaining 70% to the developers.
Android Play Store Payments:
The revenue generated by a paid application on play store is credited to the account of developers every 30 days. In play store, there is no minimum limit of earning before transferring the amount, any amount earned by an app above $1 is credited to developers within the said time. Just like the Apple Store, the Android Play Store also works on 70:30 ratio. 30% of the revenue generated from the play store by an app is kept by the play store while the rest 70% is credited to the developers’ account.
How Much Do Apps Actually Earn
Revenue generation through an application depends mainly on the following aspects:
- Platform:
The platform for which an app is made can have a huge difference on revenue. To clarify this statement, it was found that more than 25% of iOS app developers generate a revenue of over $5,000 through their app on apple store while the percentage is only 16 for Android app developers earning $5,000 from their apps on play store. - In-App Purchases:
Integrating the option of in-app purchases can lead to immense growth in earnings through the app. However, this option is not suitable for all kinds of app, and is mainly used in gaming apps. - Advertisements:
In-app advertising also expands the profits of developers by advertising other companies within the app and charging them for the same. - Subscription:
If an app is such that it can offer monthly or annual subscriptions and bind the audience with the in-app activities, this can lead to earnings beyond expectation.
Mobile App Categories Earning A Handsome Revenue
The category of a mobile app is a decisive factor for its revenue. If an app is made in the category of high competition in the market, and not advertised appropriately, the chances of earning revenue can be extremely less. On the contrary, if an app is launched in the market of lesser competition, or higher interest area of the audience, the chances of earning through it can be considerably high.
The following app categories are always in-demand and thus earn quite well for the developers:
- Gaming Apps
- Social Media Apps
- Music Apps
- Business Apps
- Dating Apps
- Entertainment Apps
- Finance Apps
- Live-streaming Apps
Earning From App Irrespective Of The Store
It is very well possible to earn from the app without bothering about the revenue share from the individual app stores. Following are the aspects of such earning:
- Subscription:
A nominal subscription amount can be charged from the users which can help gain a lot of revenue. - Freemium:
The idea in this mode of monetization is to lock the best features in an app and allow the users access to other general features. Once they use the app and find it good, they will have to pay a specific fee to gain access to those locked features. - In-App Advertising:
You can allow other app-companies to advertise their products in your app by paying you for the same. This can lead to regular earnings without putting much effort. - In-App Purchase:
This earning model is the one in which the users have to pay to use a special feature or to move on to a next level of the app. Mostly, such a model is used in gaming apps where users can buy the necessary features in the app by paying the associated charges. - Sponsorship
This is one of the least seen revenue-models but is still workable. For this method, an app of the same category as yours with similar target audience is found and approached with a proposal of redesigning your application resembling their style and presence, in order to increase the customer base and revenues of both the brands together. Proving them the worth can help you get the sponsorship amount.
Conclusion:
If you have a unique idea which can lure a lot of audience and bind them for a longer duration, there is no limit of revenue which you can earn. Furthermore, if an app can be designed and developed with in-app purchasing options, the revenue generation chances can manifold multiple times. However, an experienced and proficient app development company must be hired for your idea to be presented in the desired way to the masses in order to earn the most out of it. Contact us at info@omninos.com and we would guide you in the most professional manner and transform your dream-app into reality.
