There's Gold in Them There Apps

min read
gold-apps-money.jpg

Newsweek today reports on the success of Apple iPhone applications, which have netted even some small entrepreneurs as much as $1 million in revenue. Seemingly innocuous apps such as a virtual electric wind instrument, a sloshing, virtual mug of beer and a digital firecracker have been earning easy money for a cottage industry of tech-savvy programmers.

Apple gets 30 percent of the revenue on apps sold through its App Store (the only legitimate way to get third-party programs on an iPhone). Programmers take the rest. The little programs--games, calculators, music makers and more--range in price from free to more than $20. "It's kind of a gold rush," Brian Greenstone of Pangea Software in Austin, Texas, tells Newsweek. "It's crazy. It's like lottery money. In the last four-and-a-half months, we've made as much money off the retail sales of iPhone apps as we've made with retail sales of all of the apps that we've made in the past 21 years--combined."

More from Entrepreneur

Learn to be a better leader and develop successful marketing and branding strategies with Dr. Patti Fletcher's help.
Book Your Session

For a limited time only, get this bundle of Entrepreneur PressĀ® titles for less than $30 (60% OFF) on our bookstore when you use "LEAP" at checkout.
Buy Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.