With the App Store and Google Play seemingly dominated by a handful of studios, many developers may believe there is little to no chance of generating significant revenue from the mobile space.
But a new infographic released by Pollen VC and Priori Data, entitled The App Developers Millionaires Index, claims that 1,887 app developers have made more than $1m over the last twelve months.
The revelation that 78 per cent of millionaire app developers are games creators may not come as a surprise to most devs, but the fact that you don’t need to be in Top Grossing Charts to make money might. According to the study, 45 per cent of all app store revenues are taking by companies outside of the Top 100.
Furthermore, an estimated 20,000 developers are expected to have made more than $100,000 by the end of the year.
"The research snapshot highlights the emergence of middle-class app and game developers," said Pollen VC CEO Martin Macmillan. "It's great news for smaller app developer companies and underlines the health of the wider app ecosystem — provided companies have the right understanding of user acquisition and a sound monetisation strategy, as well as the right funding strategy in place to achieve success.”
You can view the full infographic below (click the image to make it larger), or view it online here.