The business of… Apps
iPad, iPhone, smartphones, apps… People in the technology business love making up words, apparently. They love making cash, too – and the latest big business is ‘the app.’
May 4, 2011 12:30 by kippreport
Don’t be fooled by the downright sillyness of some apps; the apps business is big money. Currently, analysts predict the market will be worth $4 billion by next year. As mentioned earlier, the revenue of apps, which generally cost under $5 to download, are split 70-30 between the app developer and Apple – which can translate into thousands and thousands of dollars for the developer at the end of the day. Consider the case of Joel Comm, who developed an app that created a farting noise, appropriately called iFart, which helped him rake in Dh30,000 a day for the first few weeks; or the case of Kostas Eleftheriou, who developed an app called iSteam, which allowed users to scribble messages on a virtual steamed up screen: an app that brought her Dh240,000.