Furthermore, Smart speakers such as Alexa or Google Home are also dominating the application world. While the growth of these devices was already predicted to surpass the $ million lessly connecting these devices with third-party mobile applications is what proves the viability of mobile applications.
Moreover, the widespread mobile applications don’t stop just here because the hottest game consoles have their own dedicated app stores that give the gamers options to buy or download their preferred game applications easily from the store.
Smartwatches are another branch of technology that is observing drastic growth. Wearables are increasingly becoming dominant in the tech world, and it is predicted that they’ll reach a 51% share of wearable devices in 2022. So, if you’re an app developer, I would recommend that you make your app smartwatch compatible to give it a competitive edge and viability.
How Much Do Subscription Apps Make?
Subscription apps are another great medium of earning money through in-app purchases. Although the Tinder app is free for anyone to download, it charges the users for its features, such as unlimited swipes. This feature gives the users unlimited opportunities to find a match.
Moreover, Tinder’s “Passport” add-on allows the users to match with users in other locations, whereas “Boost” allows the users to appear on top of the pile in front of the nearby Tinder users. These in-app features available to the audience only if they were to purchase them generated over $407.4 million in revenue. If you’ve ever used Tinder, you may know that it charges $9.99/month for Plus subscription and $ for a Tinder Gold upgrade. Hence these packages and great features are what made Tinder one of the highest-grossing apps globally.
Another great example of how mobile applications are making money is Bumble. However, the main difference between Tinder and Bumble is that Bumble is specially meant for women only.
With such a strong presence, the app was estimated to sugar daddy co make $172 per minute in 2018 due to the monthly subscription package it had of $9.99. Other than these apps, Pandora, Tencent Video, Netflix, Hulu, and iQiyi are some other subscription-based apps earning millions.
Hotspot Shield by AnchorFree is another example of a great mobile application that has earned significant value over the years. The app lets the users bypass the restrictions and even firewalls while surfing the internet anonymously.
The technology became immensely popular during the Arab Spring as it was being used to bypass government censorship. For a year of service, the monthly subscription cost is $5.99. Additionally, on a month-to-month basis, the subscription charges are $. Furthermore, the Hotspot Shield has more than 650 million download by 2019, and it stands as one of the top-grossing apps on the App store.
Now that we’re done with the heavy hitters of the mobile application world let’s explore some of the more inclined apps towards generating a significant amount of revenue on a smaller scale.
This close competitor of Tinder has a user base of over 50 million and an impeccable growth rate of 135%
The Wattpad, an app that lets users read online stories and write them. According to Sensor Tower, Wattpad has more than a million downloads, earning $800k in revenue. The main method through which the app earns money is by selling stories to readers. The app strategically hooks the users with engaging, suspenseful, conversational, and real-life stories; however, the readers must pay for them to read them.
Another great example of a minimum earning mobile application is the Kayla Itsines’ Sweat app. The app provides the subscribers with super-effective training workout videos, diet plans, yoga, and much more health-related. The app was released in 2015, and currently, it is generating $100 million/yearly.