Google Inc (GOOG): Google Play revenue is reportedly up 2.5x from the past year
The Google Play Android market has seen a substantial increase in downloads and its revenue numbers are increasing. Games are now generating 90% of Google Play revenue and 98% of that revenue is from freemium apps, according to App Annie. Japan is leading the revenue growth for Google Play.
“There are now over 1.5 million apps available on Google Play,” reports App Annie. “The number of apps grew by around 60% between July 2013 and June 2014.”
Google has always saw massive download numbers, but now the revenue it is delivering for developers is outpacing downloads. Downloads were up 1.5x over the past year and revenue jumped 2.5x. This will give developers more of an incentive to plug resources into Android development.
Entertainment app downloads have increased 35% and social app downloads increased over 50%. Communication apps have jumped over 100%.
Most of the increase in revenue is from freemium apps and 2% is from pay-to-download apps. The overwhelming majority comes from in-app purchases.
Only one country, Brazil, has over 10% of its revenue coming in through paid apps or paid apps that also have in-app purchases. “Japan continues to dominate Google Play revenue,” reports App Annie.
Japan was the top country for Google Play revenue in Q1 2014, which continues a trend with 2.4x revenue growth compared to the same period last year. The U.S. jumped ahead of South Korea with 2.6x growth while Korea saw around 1.9x growth. Germany and the U.K. were both fast-growth Android regions. The U.S. saw 1.2x growth, but Brazil and Russia were higher at 2.6x and 1.9x, respectively.
Stock Tag: Google Inc (NASDAQ:GOOG)