It is difficult to imagine a modern person who would not use mobile apps. Every day we communicate, shop, order food, solve business problems, have fun at free online slots, for example, and relax with their help. Apps are a real profit generator for your business, and we’ll show you how to use them skillfully.
Why Use Apps for Business?
The main task of any app is to satisfy the needs of the client. People payfor what they like and what they are comfortable with. The challenge for any developer is to create an app that covers the client’s pain. If you have coped with this, you can be sure that the money is in your pocket.
What is a profitable app? The most profitable apps are the programs that do not only satisfy the need here and now but also encourage a person to become a regular user, subscriber, part of your app.
We will tell you about 5 types of apps with a guaranteed income and how they work.
1. Streaming Services
Streaming video and audio is one of the most profitable and relevant areas that does not lose its popularity. At the end of 2019, App Annie, a mobile app market analyst, published statistics on the most successful apps of the year. As you can see, almost half of the TOP-10 is devoted to watching videos:
This is reflected in financial performance as well. Statistics from the Statista portal show that video subscription revenue continues to grow. According to them, the global industry revenue will be more than $85 billion by 2025:
Video has become so popular in our time that no social network can do without it. Instagram offered a separate functionality for creating stories, and TikTok is completely focused on video content.
According to Statista, in 2020, 85% of mobile app users actively watched all kinds of videos:
It is worth noting that the best profitable apps in this category offer their users a subscription. This encourages people to better explore the app and take advantage of the premium features. You’ve probably heard or even use YouTube Premium:
The subscription model is a big plus for business. With such an app, you can predict future income more accurately. Payments are repeated weekly or monthly, and you know when and how much money will be received.
The subscription model is relevant not only for audio and video streaming apps but also for such profitable apps categories as dating, news, and even games.
2. Dating and Relations
The problem of loneliness today is solved as simply as possible: download the app, choose the person you like, and get acquainted. People love dating apps because they are always on hand, and you can present yourself in the best way. Convenience is also added by the GPS feature – with its help, you can limit the search to those who are nearby.
Revenue in this kind of apps is mainly generated by ad exposures and subscription systems. By upgrading their profile to VIP, users gain access to additional features or some perks.
According to The Verge, the popular Tinder app managed to make $1.2 million in 2019. Pretty much, isn’t it?
But the main thing is that this is not an exception to the rule. Tinder’s direct competitor, Badoo, has over 500 million registered users worldwide as of 2020. Naturally, the developer has a corresponding income.
3. Social Networks and Messengers
Today, almost everyone is on social networks: from ordinary people to CEOs of large companies and celebrities. Someone communicates on Twitter, someone on Facebook, someone on Instagram, someone everywhere, and at once.
Of course, it is quite difficult to compete with the giants of the market. To create a competitive app in this niche requires huge financial investments and a strong team of pros. However, TikTok has shown that it is still possible to break into this market.
Launched in 2016, the social network quickly gained an army of fans. In 2019, the app was downloaded 738 million times.
In App Annie statistics, TikTok was ranked the 6th among the most downloaded types of apps in 2019:
The popularity of social networks creates another source of income from apps. These are all kinds of programs that simplify the use of social networks. Such types of apps can be aimed at both entertainment and work.
For example, the SMM planner service helps maintain company profiles on social networks. It has its app and a paid subscription form.
4. Health and Fitness
Healthy lifestyles have increased significantly in popularity in recent years. If in the 70s and 80s cigarettes and alcohol were in vogue, in the 90s the Pepsi generation ruled, then millennials have already seriously thought about a healthy lifestyle. At the same time, the demand for all kinds of thematic types of apps has increased. Pedometers, calorie tracking, mood diaries, fitness trackers are all very popular today.
It’s too early to sum up the results of 2020, but StockApps is confident that by the end of the year, revenue growth from this category of apps will reach 30.9%. The total is expected to cross the $22 billion mark.
The greatest interest of users is caused by videos of fitness trainers, calorie and diet trackers, meditation apps, training programs.
One of the most profitable HLS apps is Calm. By the end of 2019, 2 million people signed up for it, and the number of downloads for the year exceeded 60 million. The total revenue last year was $150 million.
While Calm focuses on mental health, other apps are becoming leaders by focusing on physical conditions. According to the SensorTower portal, in October 2020 alone, developers of the fitness app BetterMe managed to earn $3 million. Let’s agree, the amount is considerable for a monthly income.
5. Gaming Apps
Games are perhaps the most bottomless gold mine. Excitement and passion for rivalry have gripped people for a thousand years, since the advent of dice. If you can develop competent and interesting mechanics, or have the best platform to build an app, consider that the money is in your pocket.
There are so many directions in the gaming industry that almost all gaming apps have their adherents. One chooses complex MMO RPGs, while the other prefers simple logic games or something in the style of the legendary snake.
According to figures released by MediaKix earlier this year, global mobile gaming revenue is set to reach $106 billion by 2021:
The good thing about this industry is that you don’t have to create a complex product to make a profit. In the same MediaKix statistics, the 3rd place is taken by the Candy Crush Saga app:
As you can see the game does not feature a complex gameplay. You just need to move the images and collect identical ones into combinations. This is a classic mechanic that was able to take the lead thanks to its simplicity and great implementation. Remember the legendary Tetris, which made a real boom in its time. The principle is similar. And all ingenious, as you know, is simple.
Mobile casinos show an equally illustrative example of profitability. For example, according to statistics from SensorTower, Super Lucky Casino products brought the casino an income of $300,000 in October 2020 alone. Mobile casinos are capturing the attention of gamblers increasingly, replacing classic land-based casinos. This is associated not only with the convenience and availability of casino products anywhere and at any time but also with the costs of the laws in different countries, which prohibit gambling on their territory.
Summary: How to Create a Highly Profitable Mobile App
It is impossible to describe all types of apps in one article. It will be too long and take a long time to read. Let’s just say that in addition to the categories that we talked about, educational apps and various utilities, for example, VPN access, bring a good income. Not the last place in the ratings of profitability is occupied by programs for children.
In any case, no matter what niche you choose, you need to carefully think over the financial scheme in advance. How will you earn income? Will it be paid content like Instagram masks or an app subscription?
Most programs opt for subscriptions. This way, you do not cut off users who are not ready to pay money, and at the same time, you get a stable income.
The main thing is that your app is interesting and without financial investments, because the more satisfied users there are, the better recommendations and word of mouth will work. Besides, most people prefer to look at free content first and only then decide whether they are willing to pay for the app or not.
And here, the usefulness of the content and competent financial mechanics become a priority. What apps generate income for you? Share your experience in the comments.
Author’s Bio
Thomas Glare adores exploring new apps on the app store and then writes comprehensive reviews to ease our life. He pays great attention to everything concerning digitalization. His other hobby is testing different sports apps, trackers and dietary apps.