When the App Store was first launched back in 2008, it created a whole new economy that app developers could work in and earn revenue from. One of the restrictions placed on apps that wanted to be available on the store was that they could only select one out of 90 price points to sell their digital products at. Many developers rankled at this because of the fact that this is the sort of thing that could potentially end up limiting their options.
With all of that having been said and now out of the way, it is important to note that Apple has made an enormous change to its App Store pricing policies that might give developers far more options than might have been the case otherwise. Apple is now giving developers the ability to set up to 900 different prices that range from 10 cents all the way to $10,000, and that can give developers a lot of flexibility with respect to the consumers they can target.
Another big change is that Apple is taking currencies other than the US dollar more seriously. Globalizing one’s business is becoming increasingly important these days, but unstable exchange rates can make it difficult to keep revenues consistent. Consumers might cancel subscriptions if they suddenly start costing more due to a higher exchange rate of their local currency with the dollar, but that might no longer be the case with all things having been considered and taken into account.
Developers would now get the chance to fix their prices in up to 45 currencies. The prices will also change automatically based on exchange rates if that option is selected. Apple is clearly trying to create more opportunities both for app makers as well as their users, and it will be interesting to see if any apps reach the higher price points. This can open the door for luxury and premium apps that are catering to an exclusive audience, and it can also give consumers more budget friendly apps that cost next to nothing but can still add up to a lot of revenue for developers.
Read next: New Data Proves Apple News+ Readership Is On The Decline For Leading Magazine Publications
With all of that having been said and now out of the way, it is important to note that Apple has made an enormous change to its App Store pricing policies that might give developers far more options than might have been the case otherwise. Apple is now giving developers the ability to set up to 900 different prices that range from 10 cents all the way to $10,000, and that can give developers a lot of flexibility with respect to the consumers they can target.
Another big change is that Apple is taking currencies other than the US dollar more seriously. Globalizing one’s business is becoming increasingly important these days, but unstable exchange rates can make it difficult to keep revenues consistent. Consumers might cancel subscriptions if they suddenly start costing more due to a higher exchange rate of their local currency with the dollar, but that might no longer be the case with all things having been considered and taken into account.
Developers would now get the chance to fix their prices in up to 45 currencies. The prices will also change automatically based on exchange rates if that option is selected. Apple is clearly trying to create more opportunities both for app makers as well as their users, and it will be interesting to see if any apps reach the higher price points. This can open the door for luxury and premium apps that are catering to an exclusive audience, and it can also give consumers more budget friendly apps that cost next to nothing but can still add up to a lot of revenue for developers.
Read next: New Data Proves Apple News+ Readership Is On The Decline For Leading Magazine Publications
