The State of the App Economy
There’s no question that the app economy is healthy and will skyrocket as more users in emerging economies acquire smartphones, and as users in mature markets (like the US and S. Korea) spend more money in mobile apps.
This growth in revenue will sweep across the entire app economy and should touch all categories and industries. The opportunities for app publishers are expanding, and that trend is certain to continue as users start turning to apps more frequently, and for longer session times.
In other words, don’t think of your app as an isolated side project; think of it as a potential pillar of your future business. The mobile app landscape is filled with potential to drive business, and there are new opportunities arising every day.
Monetization and App Revenue at a Global Scale
In order to monetize on a large scale, think ahead about how to expand beyond the borders of just one country. Your app revenue and monetization strategy may need adjustment based on different local economies and preferences.
For example, in App Annie's 2016 Retrospective, we found that in 2016 China claimed the top spot for iOS App Store revenue. With over $2 billion in publisher revenue, China’s 2016 Q4 was the biggest quarter for any country in iOS App Store history. This spectacular performance suggests that as a publisher, if you aren’t currently in the China app market, you may be missing out.
All in all, the state of the app economy around the world is bursting with potential for savvy app publishers to increase their revenues, provided they do their global market research.
Now that you’ve got a wide-lens view of the app economy, let’s focus on you. In the next lesson we’ll get into the nuts and bolts of how to set up shop in an app store and the financial considerations involved.
In the next lesson, we’ll get into the nuts and bolts of how to set up shop in an app store and the financial considerations involved.