Google Play only had 88 new millionaires, but saw a 20-percent increase over last year
The big picture: Apple’s App Store and Google Play both saw an increase in the number of developers for the first time for their revenues to over $ 1 million. App development on the digital storefronts continues to grow as many developers start switching to subscription-based instead of ad-based models.
According to an analysis report from the Sensor Tower, Apple’s App Store has produced 164 millionaire developers in 2018. The analytics firm focuses on Apple and Google digital storefronts as well as that the store store was about half of the new developers who had about 1 million revenue this year.
Since Apple has a 30-percent cut, Cupertino raked in well over $ 50 million from the newly minted millionaires. According to the company’s recent press release, its Austin, Texas, App App Store is responsible for more than 1.5 million jobs in the US. Most of those are independent app developers.
Sensor Tower’s analysis also indicated that the industry continues to see significant growth.
“The number of publishers with their first $ 1 million or more year on the U.S. App Store grew by approximately 15 percent over 2017, when we found that 143 achieved this milestone, “the report reads.
Although Google did not get as many millionaires as it turned out, it liked similar percentage-wise increase. A total of 88 developers made their first million from Google Play in 2018. Compared with 2017’s number (71), it is about 20 percent increase.
Apple has been pushing developers to switch to a recurring subscription model versus in-app advertisement, which seems to be paying off.
“Both of the categories with the highest year-over-year growth in terms of new million-dollar publishers-Lifestyle and Health & Fitness-were those where there is a strong focus on in-app subscriptions through generating revenue, whether Be from fitness tracking, guided meditation, premium dating services, etc. “Sensor Tower analyst Randy Nelson told Business Insider via email.
Gaming, which made up about one-third of the million dollar apps, saw some revenue growth, but health and fitness and other non-gaming applications saw their revenue growth this year about 57 percent. This increase was mainly attributed to in-app subscriptions.