There aren’t too many things you can buy for less than a dime, but, according to a recent study, iOS apps may soon be the exception. Noting that an increasing share of app downloads are for free offerings, researchers at Strategy Analytics predicted that the average selling price of an app will drop to eight cents by 2017, according to TechCrunch.
In its market forecast, Strategy Analytics also predicted that the number of smartphone and tablet app downloads across Apple’s iTunes Store and the Google Play store from 2008 to 2017 will surpass 350 billion, TechCrunch reported. During this period, paid downloads are expected to generate more than $57 billion globally, but the share of free app downloads is also projected to grow to 91 percent by 2017.
As free apps continue to grow in prominence, researchers suggested that developers will have to find new revenue streams such as in-app advertising and noted that app stores could see a decline in the share of revenue that heads their way. Nonetheless, the numbers also represent a major market expansion. At its most recent media event, Apple reported 35 billion app downloads and $6.5 billion in payments to developers.
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