It’s no secret that an app developer job doesn’t guarantee consistent income. Most existing apps are nice-to-have items or simple tools with no revenue-generating channels. A report surrounding mobile app subscriptions provides in-depth data through 2023, showing how most programmers who develop mobile apps struggle to make ends meet.
A report from RevenueCat called "The State of Subscription Apps" contains data on 30K subscription apps with 290 million subscribers.
The data in the report is a unique look at Apple's App Store and Google Play Store app subscription businesses, as it is the largest data set outside of those two companies. Many data points are unchanged from last year, such as the common $10 monthly subscription price, but the average price is up 14%.
Only 17.2% of apps will reach $1,000 in monthly subscriptions, but apps that reach this level will have an easier time growing. About 59% of apps that make $1,000 a month will make $2,500, and 60% of those will make $5,000. Only 3.5% of apps earn $10,000 per month. User retention after 12 months was down 14% year over year, but 10% of those users resubscribed within a year.
RevenueCat CEO Jacob Eiting said: "A lot of apps are raising prices - price increases caused by inflation - and of course that will lead to user churn. Overall, the ecosystem seems to be doing well, but there has been some realignment."
Continuing with his predictions for 2024, Eiting believes that artificial intelligence will become a disruptor next year. He said that this is not the death of mobile apps as some people predict, but the second act, because mobile is the interface of artificial intelligence.
The State of Subscription Apps in 2024 is an informative report packed with metrics designed to answer any questions you may have about the app subscription market. Anyone can view the 120-page report by sending an email to RevenueCat.