We here at AppMuse love a Cinderella story as much as the next guy, particularly when that story involves a mobile app. However, the tale of the gifted kid with one good idea slaving away in his garage to develop the next multi-million dollar mobile app sensation is the rare exception to the rule. The good news is that according to a recent report published by Flurry, you don’t have to make it big to be successful in the mobile app industry.
First, the numbers. The total revenue generated by the mobile apps is expected to rise from $5.4 billion in 2011 to about $8.7 billion in 2012. It’s difficult to conceive of any industry with that kind of growth potential, but there’s even better news for mobile app developers who are just getting started. In 2010, the top 100 apps accounted for 45% of the total revenue, and that number is expected to shrink to 32% in 2012. In other words, almost 70% of the total mobile app revenue is going to second- and third-tier developers producing solid products that are selling well. In statistical circles, this is described as a “long tail;” in new industries, wealth tends to accumulate at the top as brands are established, but the mobile app economy appears to be bucking the trend. By localizing their products, app developers can sell more apps in smaller quantities, and as long as the consumer base continues to grow – which appears inevitable at this point – there’s money to be made developing mobile apps.
With the explosion of the app economy, many potential developers have begun to feel as though they’ve missed the boat, which is simply not the case. Flurry’s happy conclusion clarifies the data succinctly: “The age of middle-class app developer has arrived. In this economy not only are the rich getting richer, but so too are the poor, and gaining on the rich.” So if you have an idea for a mobile app, there’s never been a better time to bring it to life; just drop us a line and we’ll get you started with three free quotes from reputable developers.