So much for the dream of turning an app into a business.
App Promo, a marketing firm, surveyed 102 app developers who work with iOS and Android and found that 80% do not make enough money from their apps to support the costs of a starting a standalone business. What’s more, 59% don’t even make enough to recoup the original costs of developing the app.
The problem, according to the report, is that the app market has become completely over saturated, making it that much harder for developers to get their apps discovered organically. Indeed, the survey found that 63% of developers had their apps downloaded 50,000 times or less and nearly three quarters of developers earned $5,000 or less in revenues.
Here is App Promo’s infographic highlighting all the key findings from the report: