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The app industry is now bigger than Hollywood

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OFFLINE   sincity


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The app industry is now bigger than Hollywood

After some hefty number crunching, analysts have found that iOS app developers raked in $10 billion during the course of 2014, which was more than US box office takings over the same period.

Total App Store revenues (since 2008) have reached $25 billion, according to Asymco, while app prices rose 50% across the year.

Overall, apps are dominating the revenue earned by both Apple and its developers from the iTunes Store. More revenue is generated by apps than books, TV shows, movies and music put together.

Take that, Tinseltown

If you're about to ditch your agent for a coding tutor then here are some more Asymco stats to encourage you: some app developers can earn more than the big Hollywood stars and the average developer earnings are higher than those for actors.

The US box office figures show a little over $10 billion was spent in 2014, so presumably App Store revenue only just pipped it - if only you'd watched Guardians of the Galaxy again instead of buying Monument Valley, it might have been a different story.

2015 is off to a good start, too: Asymco says that $500 million was spent on iOS apps in the first week of January, so another record-breaking year could be on the cards. "It's also likely that the app industry is healthier [than the movie industry]," says Asymco's Horace Dediu.

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