Mobile app development and maintenance is a resource intensive and time-consuming process – which is why the primary objective of publishers is maximising the revenue they generate from their apps. One of these is data monetization.
Data monetization, however, is not what usually comes to mind first. Since several successful platforms like Spotify, Tinder, and Netflix use subscriptions, one might be inclined to believe this is the most common monetization strategy. However, out of the $111 billion generated in mobile app revenue in 2020, subscription-based apps on both Apple’s App Store and Google Play collectively earned only $11.7 billion. This statistic offers a key insight: subscription models capture the imagination but only account for approximately 10% of all revenue generated from apps. Therefore, it is important to explore alternative models for generating revenue.