Apple is making a major change to the pricing system on the App Store with the addition of 700 new prices for apps, with the highest mark being $10,000.
This change is applied based on an agreement between Apple and developers worth $ 100 million made in August 2021. Under the agreement, Apple is committed to expanding the price bracket for applications sold on the App Store to help developers have more business opportunities.
App Store currently applies 900 prices, from $ 0.1 to $ 1,000 for apps. The most expensive app currently on the App Store is Cyber Tuner for $999.99. But after adjusting the price, there will soon be applications on the store that are sold for thousands of dollars, even 10,000 dollars.
Apple’s implementation of the new pricing framework comes as the App Store has been criticized by developers for its 30% fee policy every time a user makes an in-app purchase.
At the beginning of October, Apple also simultaneously increased the price of applications in the Vietnamese market. The fee is divided into 87 tiers, starting from tier 0 (free), tier 1 apps will add 25,000 VND. The highest price of an application is 24.9 million.
App Store was born in 2008, with 500 initial applications, during the launch event of Apple’s 2nd generation iPhone – iPhone 3G.
Since 2013, Apple has published the total amount paid to developers, but has not disclosed the revenue from the App Store each year. In 2021, CEO Tim Cook revealed that the company spent $ 60 billion on developers. According to CNBC, with the highest commission Apple receives at 30%, sales on the App Store could be about $ 85.71 billion last year.
(Refer to QTM)
